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S&P Futures, Global Stocks Rise Ahead Of The Fed; Oil Rebounds

S&P Futures, Global Stocks Rise Ahead Of The Fed; Oil Rebounds

It is fitting that just a few hours until the Fed's second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the Dollar DXY index is fractionally in the red.

Global Stocks Drop Ahead Of Fed Rate Decision; Dollar Rises As Sterling Tumbles

Global Stocks Drop Ahead Of Fed Rate Decision; Dollar Rises As Sterling Tumbles

European stocks declined for first session in five ahead of Wednesday's Dutch elections, debt ceiling expiration and the conclusion of the Fed's 2-day meeting where it is expected to raise rates by 25 bps. Tightening concerns emerged, also dragging down Asian shares and S&P futures, while the dollar continued its rise for a second day. Crude oil has ended its six-day drop. The pound tumbled 0.8% to the lowest since mid-January in a delayed reaction after Theresa May won permission to trigger the country’s departure from the EU.

SocGen: "The Average Stock Is Still 26% Down From Their All-Time Highs"

SocGen: "The Average Stock Is Still 26% Down From Their All-Time Highs"

With the S&P making new all time highs on a daily (and hourly) basis, and the VIX just why of all time lows, one has to look hard to find something that is amiss with the "market." Which is precisely what SocGen's Andrew Lapthorne did recently, and in his latest report he warns that global indices hitting all time highs is "disguising an underbelly of trouble."

Global Stocks Hit 21 Month Highs, Futures Point To New Record Ahead Of Inflation Data

The global "risk on" melt-up continues.

After a modestly hawkish Yellen warned that every meeting is live, and refused to take March off the table, sending the dollar and yield higher and the S&P to fresh record highs, world stocks rose hitting a 21-month high on Wednesday with the dollar rising for the 11th straight day, the longest positive streak since July 2015.

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