First Call January 28, 2021

by | Jan 28, 2021 | First Call

  • S&P futures down 0.3% and Nasdaq futures down 0.9%. Follows biggest down day for US equities on Wednesday since October with Dow, S&P, and Nasdaq all down over 2%.
  • Continued insanity with the heavily shorted stocks
  • Asian equities under pressure overnight with weakness in Greater China seemingly exacerbated by the biggest PBOC liquidity drain since October.
  • European equities are also weak.
  • Treasuries are narrowly mixed. 10-year yields hovering right around 1% after breaking through that level on Wednesday.
  • Dollar firmer vs yen and little changed vs euro.
  • Gold down 0.3%.
  • WTI crude off 0.1%.
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