Excerpt from Nasdaq’s latest article quoting DataTrek’s Nick Colas:
….”Nothing. That’s how the market has decided to follow up yesterday’s big reversal. With absolutely nothing. S&P 500 futures, Dow Jones Industrial Average futures, and Nasdaq Composite futures are all little changed this morning. And that’s understandable. Trade uncertainty continues to weigh. Earnings season will be starting soon. And the first half of the year ends tomorrow. In an uncertain world, why do anything crazy?
And besides, end of quarter moves aren’t to be taken too seriously anyway, says DataTrek’s Nicholas Colas. That’s because the action is dominated by portfolio managers cleaning up their portfolios before having to report their holdings, meaning the moves are less about fundamentals and more about window dressing. “Be very careful about extrapolating moves that happen at the end of a quarter,” he advises.
Advice taken. – Ben Levisohn”
Read the whole article here on Nasdaq!