The Fuse
What are futures doing?
Seeing a bit of a mixed picture in the futures, ES up nicely as is Nasdaq leading the charge again, Industrials are soft but that could change quickly. Looking to the almanac Oct 28 (today) is the most bullish day of the year.
News
More small gains in Europe, the STOXX inched higher last night supported by gains in Germany and France. The FTSE is slightly lower. Gold is a bit weak, so is silver while crude oil is getting a bid. The US dollar held onto its recent gains. In Asia, Japan up nicely and higher by 1.45%, Hong Kong with modest gains but Shanghai got drilled hard. Bund yields climbed slightly, US 10 yr treasury yields are sitting around 5% or slightly under.
Volatility
Market volatility is nascent today, the bulls have taken the reins somewhat though there needs to be more improvement under the hood. The Fed’s policy decision is today and that might sway funds to move in or out.
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