DJ -133 after a report showing showing a worse-than-expected plunge in existing home sales reignited fears about an economic slowdown. ..CNN. Europe finished near -2%. Mkt also spooked by strong yen - reverse carry trade ....risk off the book?
8.20 : DJ futs +18. Regional -1% . Commodity mixed, -0.7% to +0.7% day but seems quiet.
fkli : fbm.fkli survived a big test yesterday but a bigger test today. Hard to imagine upside. fkli is likely to trade 91-99 range on expectations that fbm retreat towards 1400. Negative and risk of a 10 to 15 points pullback is on the card if fbm < 1405. Above 1405, is trading buy.
fcpo : SO +0.7%, enough to sustain fcpo above 2500 ? . Yes for a start but unlikely to push fcpo back to "safe" zone , > 2530. However, fresh bearihs tone will come if 2495-2500 support fails to hold, targeting 2440+.
5 years ago
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