By Chris Becker
A more hawkish Fed didn’t spoil the party train on markets last night, it was the Trump gravy train – now with felons on board – that tipped caution into the mix. US stocks were mixed, with tech stocks the only ones to lift while European bourses put in broad scratch sessions. Oil jumped on the surprise drawdown in DOE oil inventories while the USD remained weak against the majors.
Recapping Asia’s session yesterday with Chinese stocks first, where the Shanghai Composite has halted its rebound, closing 0.7% lower to 2713 points, just above the previous weekly support at the 2700 point level. Momentum had swung after being very negative here but this bounceback is weak as expected, so look for another blip below 2700 today:
