First Call February 25, 2021
Feb 25, 2021
- S&P futures down 0.4% after US equities rallied on Wednesday, reversing some early session weakness to end near best levels for the day with value extending its outperformance vs growth and momentum.
- Game Stop and other "meme stocks" going crazy again on the upside
- Asian markets higher overnight with South Korea, Japan, and Hong Kong among the standouts.
- European markets mostly higher.
- Treasuries under further pressure with the broader weakness in global sovereign bonds. 10-year yields at ~1.45%. We did get the DeMark Setup 9 with bond sentiment remains oversold at 13%
- Dollar stronger vs the yen but weaker on euro cross.
- Gold down 0.6%.
- WTI crude up 0.4%.