The Market Brief
Hey Team. U.S. stock index futures edged lower on Wednesday following a strong rally the day before, driven by improved sentiment as tariff tensions appeared to ease.
Let’s see what’s ahead for this market!
Impact Snapshot
🟥 FOMC Meeting Minutes - 2:00pm
🟥 NVDA 0.00%↑ Earnings - After close
Macro Viewpoint
Institutional participation was notably muted to start the week, yet the equity index continued to grind higher. This upside move appeared largely technical in nature, seemingly influenced by overnight developments in global bond markets.
The move followed reports that Japan may cut super-long bond issuance, signalling efforts to contain rising yields and shifting global rate sentiment.
Momentum picked up as Trump postponed his EU tariff threat to July 9, triggering retail buying and short-covering in an already fragile setup.
The mega-caps remain among hedge funds’ most popular long positions.
All eyes on NVDA’s print today. Given Trump’s Middle East deals and ORCL’s commitment to buy $40bn of NVDA chips, guidance may impress.
This is a free edition of the Market Brief. To receive our additional in-depth research and data analysis, please consider becoming a paid subscriber.
