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Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.
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JPMorgan beat on earnings but is trading slightly lower after reporting big declines in trading and fixed income revenues.
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The expectation of a rate hike slipped slightly after the Fed released its meeting minutes.
Here's Lutz:
Good Morning! Spoos, Nasdaq and Industrials all roaming around all-time highs as we await JPM and Citi this AM. Across the Atlantic, Euro markets drifting around unch, with Tech shares finally taking a breather and the Kickoff of US Earnings and Lower Sov Yields weigh on Banks. DAX is flat in average volume, while Spain’s IBEX continues to rally, but volumes have collapsed on the periphery. In London, FTSE up 15bp as Miners and Consumer show some life. Lot of Green in Asia - TOPIX up 20bp despite a Yen rally overnight as Tech led gains - Hang Seng added 25bp as Fins and Property stocks saw their dip bought - Shanghai off small - KOSPI up70bp - Aussie up 40bp despite Miners getting hit on China Production Cuts
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