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“If football taught me anything about business, it is that you win the game one play at a time.” – Fran Tarkenton
If football taught us anything, it’s that TV networks (and now streaming services) are still willing to pay an arm and a leg for the rights to broadcast games!
In markets today, futures are hesitantly higher as the major indices look to pick up the pieces from yesterday’s weakness. Obviously, the focus will once again be on US Treasury yields, but economic data won’t have an impact as the calendar is entirely clear.
Be sure to check out today’s Morning Lineup for updates on the latest market news and events, an update on Japanese inflation, capital flows in China, UK Consumer Confidence, the latest US and international COVID trends including our series of charts tracking vaccinations, and much more.
2021 is shaping up to be one of those years. Yesterday’s 3% decline for the Nasdaq was the fourth daily move of 3%+ up or down already this year. The trading year is only 52 days old, but would you believe that there have only been 15 years in the last 50 that saw more 3% days in an entire year? While this year has been volatile already, keep in mind that last year the Nasdaq experienced 30 3%+ days (the most since 2008).
Through just the first 52 trading days of every year since 1971, there have only been seven other years that saw as many or more than four 3% days in the first 52 trading days of the year. Again, last year at this time there had already been 12 different 3% days, and the record was 16 in both 2001 and 2009.