With Walmart unofficially set to close Q1 earnings season, all attention will remain glued on the interplay of the rates-dollar-oil trio, and judging by the somber overnight market action, traders are not too excited with the ongoing meltup in all three.
It's another "glass is half full" moment for global markets as Asian and European markets and S&P futures, are heading into the new week solidly in the green on renewed hopes a deal can be reached between the U.S. and China to avoid a full-blown trade war. The optimism won't last.
In our history, we've had five other quarters with a greater than 5% loss. In four of those, there were clear world or market events that provided a simple explanation. This period has not been like any of these.
Global markets started the new quarter with very muted trading in Asia as most key markets remain closed for Easter holidays. US stock futures are sliding lower as China officially strikes back to US trade wars.
The Polish secret services have detained a government official on allegations he had been spying for Russia, informing Moscow about Poland’s plans on how to put the brakes on the Nord Stream 2 gas project.