First Call

First Call October 1, 2021

Oct 1, 2021

Thomas Thornton

  • S&P futures are up 0.3% and Nasdaq futures are up 0.25% well off lows after Merck Covid news in Friday morning trading after US equities were lower on Thursday with the Dow and S&P both down over 1%. Stocks on track for big weekly losses.
  • Several important economic data points today
  • Asian markets were weaker overnight with Japan and Australia down at least 2% and Korea off more than 1.5%.
  • Greater China markets were closed for holiday.
  • European markets on the defensive also off lows
  • Treasuries are firmer across the curve with 10-year yields back below 1.5%.
  • Dollar slightly weaker on the major crosses.
  • Gold off 0.2%.
  • Bitcoin up 9.5%.  New DeMark sell Countdown 13 today with the chart on the note
  • WTI crude down 0.3%. BCOM charts on the note
  • Natural Gas charts are overbought with some daily and weekly exhaustion signals in play
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