First Call May 18, 2021

by | May 18, 2021 | First Call

  • S&P futures up 0.2% and Nasdaq futures are up 0.5% although off overnight highs in Tuesday morning trading after US equities finished mostly lower, but off worst levels, on Monday.
  • Tech and media names were among the laggards.
  • Commodity equities outperformed while financials also gained.
  • Everything up this morning except the USD. Bloomberg USD Index with new DeMark Sequential buy signal - see my notes on when to buy it.
  • Retail earnings look good as expected with WMT up 3.5% (hold long)
  • Treasuries little changed to slightly weaker at the back end.
  • Dollar weaker on the major crosses.
  • Gold little changed after gaining more than 1.5% yesterday.
  • WTI crude up 0.5% following a nearly 1.5% gain on Monday.
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