Another day, another session with no real direction. At a time, investors are clearly waiting for something that could be earnings, trade war or FED related, but something substantial, in order to propel the market to new highs with conviction or to correct it to a more desirable buying zone.
Banks are reporting what could be expected from them, beating on the earnings front but showing that the lower yield in the U.S treasury debt has already made a dent on their profit margins. Volume continued to be around 15% less than the usual average of 7 billion transactions, on a day that Trump decided to remind us that there is still a long way to go in the “negotiating” table with China.
Photo by Paul Gilmore.
