First Call

First Call July 2, 2021

Jul 2, 2021

Thomas Thornton

  • S&P futures little changed in Friday morning trading. US equities on track to finish mostly higher for the week with continued upside leadership from growth names.
  • Asian markets mixed overnight with China down nearly 2% with the passing of the Communist party's centenary celebrations and PBOC's net liquidity withdrawal. Hong Kong another notable decliner, while Japan and Australia finished higher.
  • European markets are narrowly mixed.
  • Treasuries firmer across the curve with 10-year yields now below 1.45%. Several charts on this note
  • Dollar stronger vs euro but a bit weaker vs yen.
  • Gold up 0.6%.
  • WTI crude off 0.2%. Several charts on this note nearing upside exhaustion
  • Bitcoin chart on this note - I am shifting constructive bias back to neutral
  • All about employment data this morning
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