Mike’s Morning Brief – March 13, 2019

What’s going on in the world…

Market opens in the red with both the DOW and S&P climbing in unison for the first time this week as Boeing is catching a bounce from its beat up levels. Planes are still grounded around the world, but not yet in the US. Parliament rejected Theresa May’s Brexit plan yesterday, but the drama is far from over. The Market seems to believe the worst outcome is off the table. The British government has proved they’re very capable of chaos. Europe is largely in the green while Asia finished in the red overnight. US-China trade focus moved to the background given the lack of new developments. USTR Lighthizer says US-EU trade talks at a stalemate. Crude prices are catching a bid again. The Dollar is weaker as are bond prices, with yields inching higher. The Bond Market still doesn’t seem to believe this melt-up in stocks. 2800 S&P is back in play again. It’s been a solid wall of resistance so far this year.

Have a great morning,

Mike Frazier