D&D Note (4.12.2018) ~ Banks Lead Market Rally ~
Easing geopolitical tensions helped the markets to rally today. Yesterday investors digested the FED Minutes, where all members see higher GDP and inflation, more rate hikes, and saw trade war as downside risk.
The Financial sector led today ahead of tomorrows big earnings from the banks. Reporting tomorrow include C, JPM, and WFC.
The VIX fell below 20 to 18.55 as volatility slightly decreases. Treasury yields all gained on the day with the 2, 5, 10, and 30YR all seeing rising yields.
Oil remains elevated, although a premium has entered into the price over middle east tensions.
Crypto saw strong bids today. Bitcoin surges 11%, Bitcoin Cash and Ethereum up 9%, and Litecoin rising 8%.
In early reporting it seems that Trump and the Special Council will no longer have a meeting to sit down together. Concerns of a Nixonian Saturday Night Massacre situation are on the rise.
D&D movers:
– MU up 4.18%
– NVDA up 3.70%
– C up 3.21%
– BA up 3.09%
– TSLA down -2.28%
– APHQF down -1.75%
– FB down -1.47%
– IMLFF down -0.86%
Indexes
– DOW up 1.21%
– NASDAQ up 1.01%
– S&P up 0.83%
Sector Movers:
– Financials up 1.82%
– Industrials up 1.45%
– Technology up 1.28%
– Utilities down -1.28%
– Real Estate down -1.16%
– Consumer Staples down -0.19%
Notes
– US 2-YR 2.348% (up 0.037)
– US 10-YR 2.834% (up 0.044)
– US 30-YR 3.04% (up 0.035)
Volatility
– VIX 18.55 (down -8.35%)
Crypto (1:00 PST)
– BTC $7,683.01
– ETH $463.14
– BCH $708.36
– LTC $123.38
Metals
– Gold $1,337.40 down -1.66%
– Silver $16.465 down -1.81%
– Copper $3.061 down -1.80%
Energy
– Oil $67.12 up 0.45%
– Brent $72.07 up 0.01%
– Nat Gas $2.69 up 0.56%
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