Good economic News from U.S. ADP, Chicago PMI and Pending home sales all beat consensus. official China PMI data both manufacturing and Non beat expectations also helping with the ” economy is healing” type sentiment so far today. A handful of companies announced A new round of layoffs ,horrible for workers but eventually good for companies Bottom line. The Endless carrot dangling of Stimulus deal continues today Dems want more aid for states McConnell wants No lawsuits against companies from Covid, This is the true problem all the other stuff is fluff. If it can be resolved then a deal is likely. But does either side want to give in before election?
Spoos and Nasdaq +1.3% Dollar active in to the 10:00 AM London Fix and now choppy to lower,Risk On sentiment as Stocks higher Bonds lower. All SPX sector higher on day led by Health Care, due to positive Covid treatment comments. Ex Goldman CEO blankfein out with a tweet and I paraphrase markets appear to not care about possibility of more regulation higher taxes if Biden wins. In My opinion all market cares about is more stimulus, regulate all you want give me free money
Bullish Surprise in Quarterly Grains report corn +4% Soy +3.55%