Asian markets may have been buoyed by further signs of progress in the US-China trade talks, but the positive sentiment hasn’t been shared on Wall Street. Futures suggest we’ll see a largely unchanged start to trade as markets return from the long weekend break, arguably adding credence to the idea that China will get the edge in the outcome of any trade agreement.
US economic data is set to be thin on the ground in the day ahead, with Federal Reserve comments on the economic outlook and monetary policy being the most likely to hold any significant sway in the near term. The threat of protracted legal disputes over Trump’s border wall funding gambit could start to take the edge off any momentum for the market too, but as it stands, unless there are any surprises, equities could well be in for a rather quiet day ahead. What’s more, with US fundamentals not set to pick up until Thursday, this could prove to be a recurring theme, too.
Ahead of the open we’re calling the DOW down 11 from Friday’s close at 25872 and the S&P down 1 at 2775.
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Sometimes you have to throw conventional wisdom out the door and just let the good times roll