Risk trades bounce
It’s been a wild ride in the stock market today. Just 50 minutes ago, US stocks were in negative territory and now the S&P 500 is up 22 points to a session high of 3176 (+0.7%).
There haven’t been any clear catalysts for the latest moves. Trump announced a press conference but there’s no reason why that should have sparked any kind of move. Normally the kind of volatility we’ve had the past two days breeds contempt but not at the moment.
Here’s the intraday on the S&P 500:
The Australian dollar ticked to a high at 0.6976 along with stocks.