Good morning contrarians! It is Thursday, Aug. 4.
Stocks put in a major rally yesterday. Tech led the way, with the Nasdaq adding 2.5% during the session. The S&P 500 was up 1.5%.
State of Play
As of 0635 today there is not much going on:
Stock futures are up a tiny bit, with the Nasdaq pointing to gains of 0.5% at the open and SPY up 0.3%;
Commodities are flat, with WTI crude oil up 1% to trade around $92/barrel. Copper is unchanged;
Cryptos are dropping a bit, with bitcoin down 2% to trade below $23,000;
Bonds are unchanged, with the 2-year yield at 3.1% and the 10-year at 2.73%.
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