THURSDAY 7/5/18; Global PMI Services; Challenger Job-Cut Report; ADP Employment Report; ISM Non-Mfg Index; FOMC Minutes; US Yield Curve Flattens with 2-10 Spread Down to 27 Bips; Copper Collapses -3%; COMPQ +1.1%; NDX +1.2%; RUT +1.2%; XLP +1.4%; SOX +2.7%; US Tariffs to be Implemented at Midnight

Euro 1.1661. Dollar/yen 110.47. Pound 1.3231. Aussie dollar 0.7383. Indian rupee 68.7425. Dollar/yuan 66.325. USD 94.54.

[Purchase the July publication 2018-07 for the detailed explanation of the economic data, politics and news events impacting global stock, bond and currency markets.]



..........await the implementation of US tariffs less than eight hours away. The big stock market rally hints that traders expect the tariffs to be watered down and the China retaliation to be mild.