Good afternoon traders. We’re heading into the afternoon session, and after some consolidation earlier, we’re getting a risk-off breakout.
Asset moves since the U.S. equities open:
– Risk-on assets (U.S. Indices, Bitcoin, AAPL, NFLX, and others) are modestly lower
– VIX has edged modestly higher as some fear returns
– DXY, yields, oil, and NATGAS are relatively unchanged or modestly higher
Key drivers today:
– Positive Retail Sales numbers came in, yet we’re still seeing risk-off pressure
– Kevin Warsh’s Capitol Hill confirmation hearing is contributing to the cautious tone
Forward-looking Geopolitics:
An Iranian delegation is set to travel to Pakistan on Tuesday. Traders will also watch whether the Israel-Lebanon ceasefire holds and how the U.S. Naval blockade in the Strait of Hormuz evolves.
Tomorrow we have GBP CPI numbers on tap.
Drop your biggest takeaway from today’s price action in the comments!
#RiskOff #AAPL #NFLX #USIndices #Bitcoin
*TIMESTAMPS*
0: 00 Intro
0: 24 VIX
1: 02 DXY (Dollar Index)
1: 41 NZD/USD
3: 05 Bonds (TLT/10-year Yields)
3: 56 Crude Oil
5: 34 NATGAS
6: 02 Gold/Silver
8: 15 Economic Calendar
9: 02 Bitcoin
10: 17 U.S. Indices
10: 46 AAPL
12: 12 NFLX
13: 36 Geopolitical Drivers
14: 16 Overall Recap
14: 30 Actionable Thoughts/Outro
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