First Call

First Call February 25, 2021

Feb 25, 2021

Thomas Thornton

  • 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%.
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