S&P and Nasdaq futures flat in Tuesday morning trading after US equities put in a mixed performance on Monday, though the S&P and Nasdaq both hit record highs. Tech was a standout while cyclicals largely underperformed despite a backup in rates with financials and materials among the laggards.
PPI a little stronger, Retail Sales a little weaker - cue the stagflation talk
Treasuries unchanged to slightly weaker with 10s at ~1.50%.
The Dollar a bit firmer vs yen and euro.
Gold off 0.1%. New Erlanger ETS momentum sell signal - selling long position
WTI crude up 1.3%.
Copper down 4% (chart below) while Corn, Wheat, and Soybeans continue lower as well.