Trump Said "Markets Will Go Up Big Today"... They Didn't!

Zero Hedge | 10/16/2019 | Staff
stefaniastefania (Posted by) Level 3
Click For Photo: https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/max_650x650/public/2019-10/2019-10-16_10-51-18.jpg?itok=BS01aGgP




At 1048ET, President Trump told a room full of reporters that "the market was up big yesterday and its going to be up big again today."

Fwd to around 24:20:

Minutes - S - P - Highs

He was right for about 20 minutes (and we note 3,000 is lost for now and the S&P is making lower highs)...

As the odds of a China trade deal dipped today...

Stocks - Small-cap/tech - Week

Chinese stocks were not pretty overnight with small-cap/tech pushed back into the red for the week...

European stocks extended gains from Monday's dip open as Brexit optimism continued...

Stocks - Highs - UK - Stocks - Brexit

European stocks are at 29-month highs relative to UK stocks on Brexit optimism...

Dow and S&P drifted back down to pre-trade-deal levels once again today, Trannies outperformed...

Opening - Short-squeeze - Momentum - Time - Europe

Another opening short-squeeze ignited some momentum but by the time Europe closed that had faded...

US bank stocks clung to gains but are notably off yesterday's highs...

BofA - Citi

BofA outperformed as Citi leaked lower...

Momentum is starting to accelerate lower against value again...

Stocks - Highs - NFLX - Earnings - Tonight

FANG Stocks rallied again, back near one-month highs (ahead of NFLX earnings tonight)...

The bar has been notably lowered for NFLX tonight...

Treasury - Yields - Day - -0 - -3

Treasury yields were largely lower on the day but the long-end underperformed (30Y -0.5bps, 2Y -3.5bps)...

The Dollar tumbled to 2-month lows...

Cable

Cable was higher...
(Excerpt) Read more at: Zero Hedge
Wake Up To Breaking News!
Trump - Just saying what the rest won't
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!