US equities are attempting to get back on track this morning after three straight days of declines. Futures are currently indicated to erase about half of yesterday’s decline as sentiment regarding this weekend’s trade talks between the US and China was given a boost following some comments from Treasury Secretary Steve Mnuchin. Whether there is really anything to those comments remains to be seen.
Please read today’s Morning Lineup to get caught up on everything you need to know ahead of the new trading day including the latest news on trade, Asian markets, and confidence in Germany.
After hitting a new all-time high on Thursday, the S&P 500 comes into today having had three straight daily declines. Looking back over history this is not a very common occurrence. As we highlighted in The Closer last night, going back to 1928, there have only been 11 other periods where the S&P 500 closed at a 52-week high (after not having done so in the prior four weeks) only to follow it up with three straight days of declines.
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