Good morning contrarians!
Stock futures are pointing to a lower open this morning. Tech is seeing the worst of it, with the Nasdaq off 0.5%. S&P 500 is down 0.4% with Dow Industrials about 0.2% lower. Industrial commodities are trading higher, with oil and copper up about 2%. Natural gas and aluminium are up about 3%. Inflation concerns there. Those numbers as of 0630.
It’s a government holiday today — Columbus Day/Indigenous People’s Day in the U.S. (Thanksgiving in Canada) — and bond markets are closed. Nothing in the way of data releases scheduled for today. No earnings either, though earnings season kicks off with banks on Wednesday.
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