US stock markets have seen an impressive turnaround, particularly from pre-market lows. Eminis is now up 24 points on the day and 50 points from daily lows.
There is no clear catalyst for this move and there has been no help from the bond market since Treasury yields are up on the day and are in the middle of the daily range.
Williams’ comments earlier seemed conciliatory to me, but it would certainly be a late reaction. The ECB’s latest leak also suggests it is on track for a June cut, but that’s not a big surprise.
I suspect this is another example of the buy-the-dip mentality. Chipmakers are leading today with Nvidia up 3.1%, it’s a trend many people don’t want to miss, especially when you can use AI to create images like this .
AI Image
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