O'Neill can significantly move the yen in either direction with one small sentence.
Look for retail investors and brokerage dealers to pinpoint individual shares that are liquid and carry a theme.
Concerns that direction could be a firming of the yen has investors a bit wary of holding export-oriented shares.
In hindsight, yesterday's sell-off was a bit overdone.
The market looks ready to break 10,000.
Gains for U.S. stocks should give us a solid floor today, but we'll see sparse participation from institutional investors wishing to evaluate the outlook for the tech sector.
Domestic institutions were looking for reasons to unwind a good slice of their long positions in the tech sector. The yen and the Nasdaq gave them two very good ones.
If Japan were hit with fresh cases of suspicious mail, that would put an additional burden on the market.
We all know how dependent Japanese manufacturers are on the U.S. market. The jobs data is a blow to already-weak sentiment.
Copyright © 2024 Electric Goat Media. All Rights Reserved.