New All time highs touched today SPX,NDX,Indu and Dax but stocks coming off those highs mainly due to this announcement
“FTC REQUIRING FIVE BIG TECH COMPANIES TO GIVE INFORMATION ABOUT PRIOR ACQUISITIONS; COMPANIES ARE GOOGLE, AMAZON.COM, APPLE, FACEBOOK AND MICROSOFT”
Treasuries,still Trading heavy Likely awaiting the 3 year auction results, did not respond too bullishly on this announcement. Chairman Powell statement and testimony not offering anything new,In prepared remarks Powell sounded a bit confident that inflation will reach fed 2% target later this year,but up to this point no one has asked him about Stronger Inflation.
Crop report out today also not much of a mover,Prices are lower compared to Pre- 11:00 levels, the information the market wants to know,how much of each Ag product did China commit to buy might not ever be made public.Wheat the biggest loser -40 ticks.