High-flying tech names on the move
It's all about the Nasdaq today. It was down 1.8% in the premarket but it's trimmed that to 1.5%. Within the index, some of the WSB names and ARKK names are really on the move.
Palantir, which reported earnings today, was down 10% pre-market but is now higher. Tesla fell to a low of $578 but is now trading at $611 as it tries to hold the March lows.
JOLTS data is coming up shortly but that won't be a factor so it's going to be all about the ebb and flow of sentiment. There is a heavy dose of Fedspeak coming but I don't expect to hear anything new.
With the recovery from the lows in stocks, USD/JPY is following along and is up to 108.60 from a low of 108.35.
Is this the big turn, or yet another example of weak hands getting shaken out? I'll take Option #2. Nothing has changed from the Fed or from the fiscal side.
