So as the old expression goes,the boys from Dover are back. Well maybe not Dover, but certainly from East Hampton and the Vineyard as Labor Day ends the summer share season.
And lo and behold futures are soaring on the backs of Beijing buying spree. Dow futures up 1.5% with S&P e-minis up slightly more.
Asia kicked it off — but let Japan take the hit on carry trade Tuesday — with strong follow through in Europe. Let’s see how US markets close before we talk too much.
This week’s closing prices will have far more interest globally to see which market will stop going the wave — as seen in football stadiums around the world.
The close is the thing, because all this froth is predicated on China stepping up support for its markets and economy after another disappointing export report. Much buying prior to the news, so afterward we could see a sell off.