Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Tuesday, June 25. The Bottom Line segment of today’s podcast starts at (2:14) for listeners who want to skip ahead.
State of Play
Stocks were mixed yesterday with tech dropping again but large caps advancing. As we look at our board of indicators at 0630, all is quiet:
Stock index futures are flat with the exception of tech, which is up a bit. The Nasdaq is pointing to a gain of 0.4% at the open. Nvidia (NVDA 0.00%↑) is actually up 3%, the top gainer among S&P 500 stocks overnight;
Commodities aren’t doing anything. WTI crude oil is down 0.5% to trade around $81.20/barrel. Copper is unchanged;
Cryptos have stopped their drop, with Bitcoin now holding steady at $61,300;
Bonds are unchanged. The 2-year yields 4.74% whilst the 10-year yields 4.23%.
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