Stocks Panic-Bid Ahead Of CPI As Biden's Nomination Odds Re-Plunge
Another day, another 0-DTE dominated melt-up...
NVDA and TSLA dominating the options trading... and all 0-DTE!
Source: Bloomberg
Which levitated MAG7 stocks for the 7th straight day (10 of last 11 days)...
Source: Bloomberg
And that is all that is needed to lift the Nasdaq and S&P (and everything else by association). Late in the day, everything just went vertical... because!!
The S&P 500 is now almost 15% above its 200DMA - quite a stretch...
Source: Bloomberg
...ahead of tomorrow's CPI print event risk, realized vol is near record lows (10d with a 5 handle) and very short-dated vol (across the CPI print) is near 16...
Source: Bloomberg
Rate-cut expectations continue to rise as Powell said nothing hawkish... which is therefore dovish?
Source: Bloomberg
Treasury yields are down very modestly on the day 1-2bps with a very modest long-end outperformance...
Source: Bloomberg
The dollar index slipped back to Monday's lows...
Source: Bloomberg
Gold rallied early on but gave some back in the US session...
Source: Bloomberg
Oil prices surged back above $82.50 (WTI) after the official inventory data...
Source: Bloomberg
Bitcoin rallied back above its 200DMA 58,818 but was slammed back down again...
Source: Bloomberg
Finally, President Biden's odds of being the Democratic Party nominee plunged again today...
Source: Bloomberg
...do traders know something about tomorrow's solo press conference gauntlet?
Come On England!!!! See you Tuesday, BD.
NEVER MISS THE NEWS THAT MATTERS MOST
ZEROHEDGE DIRECTLY TO YOUR INBOX
Receive a daily recap featuring a curated list of must-read stories.