Trump’s Presser Turns S&P Futures

The S&P futures contract has turned up after President Trump’s press conference, which he laid out an economic relief plan, including payroll tax cuts.

The contract has moved in almost a 100 point range or 3.5 percent in the 90 minutes it has been trading.

The market is very oversold and a bounce is natural.  We believe the S&P500 moves lower over the next few months, however, until we get a better handle on the coronavirus crisis.

 

Globex

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