• FX: The euro was the weakest major currency on the day after Italy’s Deputy PM Matteo Salvini called for another election, extending policy uncertainty in the country. The aussie and kiwi were the strongest major currencies in risk-on trade.
  • President Trump seemingly endorsed a weaker dollar policy in a tweet this morning, causing some traders to speculate about the potential for the US to intervene in an effort to weaken its currency.
  • Commodities: Gold fought back from earlier losses to finish unchanged on the day while oil surged over 3%.

  • US indices gained between 1.5% and 2.25% across the board, marking the third straight up day after Monday’s sharp drop for the S&P 500 and Nasdaq 100.
  • Technology stocks (XLK) were the strongest major sector on the day, while defensive Utilities (XLU) and Consumer Staples (XLP) were the weakest.
  • Stocks on the Move:
  • Kraft Heinz (KHC) dumped nearly 9% after reporting weak sales and continued accounting irregularities.
  • AMD (AMD) surged over 16% after the company launched a new generation of processors, with both Twitter and Alphabet announcing that they would use the new processors.
  • Lyft (LYFT) tacked on 3% after yesterday’s bullish guidance. Rival Uber (UBER, +8%) is set to report earnings as we go to press.

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DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.


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