Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Monday, April 14.
State of Play
As we eye our board of indicators for signs of direction at 0650, risk appetite seems to be re-emerging thanks to news that electronics and other tech components would be excluded from tariffs on China. President Trump later walked this statement back a bit, as has been the pattern. Still, all signs are to risk-on, so far:
Stock index futures are moving higher, led by tech. The Nasdaq is up 1.4% with S&P 500 futures up 1.1%;
Commodities are gaining ground as well, with WTI crude oil up 1% to trade around $62/barrel and copper up 1.3%;
Bonds are also seeing bids. The 10-year yield is down 6 basis points to 4.43% (yields move inversely to prices);
Cryptos are unchanged through all this, with Bitcoin flat trading around $84,500.
Today’s Known Events
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