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JPM On Today's Sudden Intraday Reversal: "The Question Is Why Stocks Were So Strong To Begin With"

JPM On Today's Sudden Intraday Reversal: "The Question Is Why Stocks Were So Strong To Begin With"

Confused by today's sudden intraday reversal in risk assets, which pulled the Dow Jones from up over 160 to barely in the green, while slamming Crude from up over 2% on the day to red?

 

You are not alone: as JPM's Adam Crisafulli opines in his intraday "market update" note, "the question isn’t why stocks have come in from their highs but instead why they were so strong to begin with."

From JPMorgan:

Trump Takes Victory Lap After Ford Cancels $1.6 Billion Mexican Expansion Plan As "Vote Of Confidence" In President-Elect

Trump Takes Victory Lap After Ford Cancels $1.6 Billion Mexican Expansion Plan As "Vote Of Confidence" In President-Elect

Update: sure enough, here comes Trump's twitter victory lap:

 

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