Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Monday, July 21, 2025. Your host returns after a long illness-induced absence. Apologies for any inconveniences caused by this outage.
State of Play
Stocks find themselves at record highs after moving higher last week. As we eye or board of indicators for signs of direction at 0915 ET:
Stock index futures are unchanged with the exception of small caps, which are pointing higher. The Russell 2000 is up 0.5%;
Cryptos are not really doing much after rising to records last week. Bitcoin is unchanged, trading around $118,000;
Bonds are seeing some bids, interestingly enough. The 10-year yield is down 6 basis points to 4.37% (yields move inversely to prices);
All is quiet in commoditiesland. WTI crude oil is unchanged trading around $66/barrel. Copper is up 0.5%. Silver is on the move a bit, up 1%. Gold +0.5%.
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