By Chris Becker
Tech stocks to the rescue this time with Apple beating estimates and lifting the NASDAQ higher, dragging the S&P500 up as most European markets were closed for May Day holidays (and a little rioting on the side). The ISM Manufacturing print was lower than expected, echoed in falls in UK manufacturing which sent Pound down against USD, as did all other majors as nothing can stop King Dollar at the moment.
Recapping stocks in Asia yesterday where Chinese stock markets were still closed for a holiday. The Shanghai Composite continues to be under enormous pressure after its breakdown in early February so I’m expecting more downside pressure:
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