EQUITY TECHS: E-MINI S&P: (M5) Bulls Remain In The Driver’s Seat
May-30 13:28
* RES 4: 6124.00 High Feb 24 * RES 3: 6080.75 High Feb 26 * RES 2: 6057.00 High Mar 3 * RES 1: 6008....
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US TSY FUTURES: BLOCK: Jun'25 5Y Sale
Apr-30 13:27
- -5,000 FVM5 109-05.5, post time bid at 0921:00ET, DV01 $205,000. The 5Y contract trades 109-05 last (+2)
EQUITIES: US Cash Opening calls
Apr-30 13:27
SPX: 5,492.5 (-1.2%); DJIA: 40,234 (-0.7%/-293pts); NDX: 19,200.1 (-1.8%).
WHITE HOUSE: Trump Calls For Patience On Tariffs, Economy & Stock Market
Apr-30 13:26
US President Donald Trump posts on Truth Social: "This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden “Overhang.” This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!"
- The claim that the volatility seen in financial markets in recent weeks is due to an 'overhang' from the last presidency, rather than Trump's trade tariffs, may be seen as an indicator that the president is more inclined to maintain tariffs as is (or reintroduce 'reciprocal' tariffs once the 90 day exempting has expired) rather than work towards swift trade deals.
- In recent days there appears to have been progress, at least with some key trading partners, towards the finalisation of agreements that could see tariffs (at least 'reciprocal' if not the baseline 10%) lifted. See the US Daily Brief for more details.
