Here are some good reads this morning.
A new chapter begins for Wall Street's greatest love story - Dealbreaker
Fed puts rate increase on the radar - WSJ
Facebook to pay $19B for WhatsApp - WSJ
Opting out of evolution: Darwin Shmarwin - Economist
Billionaire Dangote leads record Nigerian syndicated loan surge - Bloomberg
"At particular times a great deal of stupid people have a great deal of stupid money... at intervals... the money of these people - the blind capital, as we call it, of the country - is particularly large and craving; it seeks for someone to devour it, and there is a "plethora"; it finds someone, and there is "speculation"; it is devoured, and there is "panic."
-Walter Bagehot
I happen to have a fair amount of work to get to pre-market today - this morning's post will be a little shorter than usual. The bulls took a breather yesterday as all major US markets ended lower. Overnight trading in Asia followed the tone set here - the Nikkei traded lower by 2.15%, Hong Kong down 1.19% and mainland China off by 0.92%.
European markets are also softer this morning - FTSE down modestly, or 0.27% and the German DAX shaving off 1.12%.
Currently, US futures are slightly lower - /ES -5.00, /YM -37.00, and /NQ -14.50.
Volume on this rally up from early February lows has been somewhat suspect. I will look for the market to catch a bid and trade sideways somewhat if I am to keep my bullish bias; if we do not get that, we could see another test of the lower bounds of the trading range in the S&P 500. Time will tell.
Put the odds in your favor today.
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