US Mid-Session UpdateUS indices are up with the Dow leading and the S&P sector profile broadly green with the
Materials sector leading and the only outlier the
Real Estate sector. The
Transports are up strongly again today. SPX is at the 200 day moving average. The
ESH19 profile has two main areas of distribution at
2730 and 2740. US Treasuries are under pressure again.
NYSE A-D Lines:
+1544. NYSE breadth:
4.07:1 and NASD breadth:
4.33:1.
Fed's Chair: says w
e have a strong economy, prosperity not universal. A flat message as indicated by ES during the speech. He also says that
increasing labor force participation is a high priority.
Side NoteThe president may be about to enter be-nice mode for reelection; a certain presidential candidate and all-American girl from the Midwest whose surname starts with the letter K might be the human political equivalent of a sidewinder missile. She's only on the loading zone gray cart at the moment but she seems more than ready to get locked on and alter political narratives in the process. It is possible that we see feigned congeniality, collegiality and possibly even improved behavior on the part of the administration in the near term. This would influence many risk asset classes.