The futures market rose modestly on Tuesday as news spread that President Trumps administration would try to put in place a payroll tax relief measure, as well as measures to help businesses deal with the economic slowdown. However, as we wake up this morning we see a futures market opening in the red. This is due in part to investors uncertainty to the timing of the economic measures the administration may put into place.
On the calendar: Consumer Price Index m/m – 0.1% vs 0.2% expected. Crude oil inventories will be out at 10:30am.
Stocks to watch: PEP, EXPR, FCAU, SNY, REGN
A look at the chart: The NQ is currently trading below it’s 20 day sma on the 4 hour chart. We would need a break above to see bullish momentum. Targets today: 8000 to the downside or 8400 to the long side.