US traders return in force today but the economic calendar remains barren | investingLive

The US stock market was open yesterday but the bond market was closed. And with it being a major holiday, it definitely sapped a lot of the liquidity conditions and market appetite. So, think of today as being the return from the long weekend and where the week officially begins.

Wall Street kept active with US indices bouncing back a fair bit after the Friday drop. US-China trade tensions remain the key driver at the moment, with investors pretty much settled on how they think the Fed will move at the end of this month.

The S&P 500 clawed back losses with 1.6% gains as tech shares led the way. The Dow posted gains of 1.3% with the Nasdaq bouncing back with gains of 2.2%. The optimism isn’t quite flowing through to the new day though, with US futures looking flattish at the moment. If anything, it signals that there is still some caution up in the air among market players.

Sure, there’s still roughly three weeks for the US and China to make nice. And for now, it seems like the Trump and Xi meeting is back on at least. But as always, headline risks remain key and things can change up at any point in the coming weeks. So, just be wary of any escalation or TACO affirmation.

As for today, US traders might be back in force after the long weekend but they will not be greeted with much of anything on the economic calendar. With the US government shutdown still ongoing, this week will feature no major data releases from the US again besides those from private surveys. Oh, what fun.