First Call

First Call December 4, 2019

Dec 4, 2019

Thomas Thornton

  • S&P futures up 0.5%, near best levels
  • However, renewed US-China trade deal optimism the main driver of this morning's upside.
  • Treasuries are weaker with some curve steepening after a big move lower in rates in the prior session.
  • Dollar little changed vs yen and euro. Sterling strength the story in FX on election sentiment.
  • Gold down 0.1%. WTI crude up 1.9%.
  • ADP Jobs data missed estimates +67k vs consensus of 140k.
  • I'm flying back to Greenwich and will have all Market Conviction pages up to date later this afternoon and the Daily Note will return tomorrow
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