Stocks are down a little across the board as tariff uncertainty continues to weigh on the market as U.S.-China talks have reportedly stalled.
Tariffs should be less of a catalyst and more of an uncertainty, though, Trump this morning accused Beijing of violating a preliminary agreement, which sent futures lower.
The big catalysts that will move stocks today are the International Trade in Goods and Personal Income and Outlays reports at 8:30 a.m. ET, Chicago PMI at 9:45 a.m. and Consumer Sentiment at 10 a.m.
Stocks started moving higher after the 8:30 reports.
We also have some Fed speakers today but I don’t think they’ll be much of a factor.
Finally, Gap (GAP) and Ulta (ULTA) both reported earnings, which could affect the retail sector. GAP is down over 14% but off the lows while ULTA is up about 8.5% premarket.
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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