It looks like the "sell everything" theme from certain days last week has been replaced with a "buy everything" mentality this morning, at least in the stock market.
U.S. equity index futures are up more than 1%, and the best-performing big ETFs are a hodge podge of factors and cap sizes: the iShares Russell Mid-Cap Growth ETF is up a suspicious 3.2% (suspicious due to thin trading) while the iShares S&P 100, Vanguard Financials, Vanguard High Dividend Yield, Schwab U.S. Dividend and iShares Core S&P Small-Cap ETFs are all up more than 1%. Tyson Foods, Applied Materials, Capital One, Pioneer Natural, Cisco, Corning and American Express are among about 20 companies of at least $25 billion in market cap that are up 2% or more pre-market. There are no stocks of that size down more than 0.1%.
More good news for stocks, this time from the bond market: Treasury yields have come off the boil a bit, with the 10-year rate at 2.87% after climbing above 2.89% earlier. WTI oil is up almost 2%, back above $60/barrel, and the Bloomberg Dollar Spot Index is little changed, having clawed back losses during the European session.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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