The summer months are so far delivering a lot of news for investors, and a lot of stress. Why not head to the beaches? J.P. Morgan’s quant superstar says...
After a May equity selloff, investors should be enjoying the June bounce. But that’s as we navigate trade headlines, i.e. President Donald Trump’s tweets or what’s in his head that day, and remain on the lookout for signs the Federal Reserve will cave on interest rate cuts.
Hang in there, says our call of the day, from J.P. Morgan’s global head of quantitative and derivatives strategy, Marko Kolanovic, who says we could get a bigger bounce from all the damage trade-war tensions have wrought on stocks. He notes the recent threat of Mexico tariffs that came and went fast. He thinks a U.S.-China trade deal — logical going into an election year — could reverse about half of the market damage seen so far.
But it’s all about oil CLN19, +3.36% rebounding from Wednesday’s selloff and soaring on reports of tanker attacks in the Gulf of Oman.Gold GCQ19, +0.41% is up and the dollar DXY, +0.05% is lower. Europe stocks SXXP, +0.06% are modestly up. Asia was mixed, but the Hang Seng HSI, -0.05% fell a day after huge protests in the financial center.The chart Stocks going nowhere. That’s what our chart of the day, from Slope of Hope blogger Tim Knight is all about.
A day after violent protests between demonstrators and police in Hong Kong over a controversial piece of legislation that would send criminal suspects to China, things remain tense.The tweet Yep. Long $MSFT from $27.
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