The market is very nervous going into the weekend as the middle east tensions increase as it looks like Israel will go into Gaza on the ground over the weekend. Crude has run higher all day, Bonds were bought early on but couldn’t keep a bid as yields rose again. The Dollar rallied for most of the day which also sent the market lower. Gold was very strong as people sought some protection. Not helping sentiment we also saw the ongoing eco prints run continue as the U-Mich inflation expectations came in hotter.. This after the CPI and PPI prints this week. Higher for longer…? Mega cap growth names certainly not helping today and pulling the market lower and a few names that have tested resistance levels like AAPL, MSFT & TSLA all failed at these levels.
A few points to highlight: