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First Call August 27, 2020

by | Aug 27, 2020 | First Call | 0 comments

  • S&P futures down 0.3% after US equities finished mostly higher on Wednesday with the S&P and Nasdaq both up for a fifth straight session. Growth and momentum plays have continued to provide the upside leadership for the market despite continued concerns about stretched valuations and crowded positioning. Yesterday was another day with overall negative breadth.
  • Here is the link for our short interest webinar today at 9am ET
  • I posted a chart of extreme dark poll selling which happened in February ahead of the downturn
  • Asian markets mostly lower overnight though China and Australia bucked the trend.
  • European markets are weaker.
  • Treasuries are unchanged to slightly firmer.
  • Dollar little changed on the major crosses.
  • Gold down 0.2%.
  • WTI crude off 0.3%.
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