First Call

First Call August 6, 2019

Aug 6, 2019

Thomas Thornton

  • S&P futures up 1.0%, near best levels, after US equities came under significant pressure on Monday. Asian markets weaker overnight with China a notable decliner, down over 1.5%. European markets seeing solid gains following some weakness earlier in the session. Treasuries weaker with some curve flattening in the wake of a big safe-haven rally on Monday. Dollar stronger vs yen and euro. Gold down 0.1% after two days of strong gains. WTI crude up 0.7%.
  • Bond bullish sentiment hit 98% which is the highest I can recall in all the years of data. I will have a new options idea on today's note.
  • S&P bullish sentiment has not reached an oversold level yet
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