2/29/19 (7:18am)
A 200+ point Dow move on positive trade news and
decent overnight data has faded on a weaker than expected ISM Manufacturing survey and a consumer sentiment reading dropping 2 points for February.
decent overnight data has faded on a weaker than expected ISM Manufacturing survey and a consumer sentiment reading dropping 2 points for February.
Sentiment, in my view, has to contract as animal
spirits have to be constrained by justifiable concerns over the state of the
global economy (read the state of global trade, which is now reflecting in the
data virtually across the board).
spirits have to be constrained by justifiable concerns over the state of the
global economy (read the state of global trade, which is now reflecting in the
data virtually across the board).
While the market’s negative-to-the-data response
this morning makes sense, traders are for the moment missing the fact
that such news inspires the powers that be (bigtime!!) to come to a trade deal sooner than later…
this morning makes sense, traders are for the moment missing the fact
that such news inspires the powers that be (bigtime!!) to come to a trade deal sooner than later…