No Evidence Of Collusion With Russia By Trump Campaign Team, S&P Futures Flat


Special Counsel Robert Mueller who was investigating the collaboration of the Trump Presidential campaign team with Russia ended the probe with no evidence of any conspiracy. On Sunday, US Attorney General William Barr said that the probe found no proof of it and that news made the S&P 500 e-mini futures flat after seeing an initial rise. The futures of the 10-year treasury note was also flat while the Nasdaq e-minis was up by 0.09% and the Dow e-minis by 0.13%.

Analysts suggest investors pay attention to the global economy:

The Mueller’s investigation reports were much awaited by investors. Leading analysts and strategists suggest that investors think about the global macroeconomics as there may be a global slowdown in the second quarter. Alastair Williamson, a Macro Strategist from the S.B.A, LLC said,

Muted response on the report overshadowed by a flurry of information last week that pointed to another growth scare in Europe, Asia, and the United States. Investors should revert their attention to a deterioration in global macro and be cautious to the monetary and fiscal policy which are currently unable to extend the global boom, as the synchronized slowdown festering in Europe, Asia, and the US becomes more severe into the second quarter.

One of the biggest bulls in the Wall Street Phil Orlando said those investors who are pulling out due to worries of a pullback in the market would miss out on great gains in the future. He was of the opinion that the rally in the markets in 2019 is going to make the markets vulnerable in the second quarter but insisted that investors should not reduce investments due to that.

As per recent data released the three-month treasury bond and the 10-year yields became negative and are the first since 2017. That has caused great concerns as there are worries of global growth due to weak data posted overseas. To add to the woes, the trade negotiations still have nothing concrete and the earnings of the first quarter can decrease on YoY basis. Orlando said ‘You are up about 20% from Christmas Eve’s bottom. We’re probably due for some consolidation. In the worst case scenario, we move back into that 2600 neighborhood depending on how bad the earnings are and how slopping the guidance is. I don’t think it’s going to be a disaster. I don’t think we’re going to retest the Christmas Eve bottom’.

Kelly Clark has been a news writer for more than 5 years covering politics, business, economy and much more. She has recently joined FinanceOrange as a news editor. She holds master degree of business administration but decided to take a chance on writing. She loves reporting on finance industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *