Futures and commodities are sliding on the latest fears: There is widespread speculation that to quell its rising inflation, China will raise interest rates.
Asian markets were down: The benchmark Shanghai Composite Index fell 5.2% Friday, erasing nearly a quarter of the country’s three-month market upswing in a day. European Bourses slipped 1%. SPX Futures (see table below) are off nearly 3/4 of a percent.
Trading in the US the past few months has been very resilient. Despite numerous opportunities to go into a deep slide, equities have traded back to from the depths. We have not had a very negative day in some time — intraday lows are appreciably worse than closing prices.
The market is trading poorly, yet refuses to go down. There seems to be a firm bid beneath.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.