First Call

First Call October 20, 2020

Oct 20, 2020

Thomas Thornton

  • S&P futures up 0.8%, near best levels, after US equities came under pressure to start the week with the major indexes down ~1.5% on fairly broad-based weakness. Much of the blame went to the latest volatility in the headlines surrounding fiscal stimulus negotiations.
  • Alphabet finally hit with DOJ antitrust lawsuit as widely expected
  • Bitcoin new DeMark Sequential Sell Countdown 13
  • Asian equities mixed overnight with China outperforming while Japan, Australia, and Taiwan declined.
  • European markets mostly higher.
  • Treasuries mostly weaker with more curve steepening.
  • Dollar stronger vs yen but weaker vs euro and sterling.
  • Gold down 0.2%.
  • WTI crude up 0.2%.
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