Monday's Market Minute: Is Anything Ever 100% Certain?

Well, after last week’s Fed announcement and its decision to leave rates unchanged, apparently a July rate cut of a quarter basis point is certain. The dovish FOMC sentiment provided a lift to the market – the S&P 500 Mini futures (/ES) traded to new all-time highs, the Dow futures (/YM) to within 50 ticks of an all-time high, and the Nasdaq futures (/NQ) to within 100 points of the 7879.50 all-time high from the end of April.

The move up is a reflection of how investors feel – with rates hitting lows we haven’t seen since autumn of 2016 – stocks here in the U.S. remain the best bet and the only place for yield. However, we all know nothing in reality is ever 100%, so keep an eye on the data due out this week because they have the potential to move markets. Specifically, watch GDP, Durable Goods Orders, and the headlines out of the G20 summit in Japan. President Trump is set to meet with China’s President Xi Jinping, and optimism headed into this meeting has provided a boost to stocks as well.

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