First Call

First Call May 19, 2021

May 19, 2021

Thomas Thornton

  • S&P futures down 1.0%, near worst levels, after US equities finished lower for a second straight session on Tuesday with weakness in big tech as well as some pro-cyclical groups while reopening names and former market darlings did well.
  • Fed Minutes today and I do not anticipate any market reaction
  • Europe down 1.75%
  • Treasuries mostly weaker with the backup in global bond yields.
  • Dollar firmer on the major crosses.
  • Gold off 0.6%.
  • Bitcoin futures down ~12.5%. Charts on this note
  • WTI crude down 2.0%.
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