A man walks a dog in the shade away from the midday sun past the New York Stock Exchange (NYSE) building in Manhattan, during hot weather in New York City, New York, U.S., August 11, 2020.
Mike Segar | Reuters
(This story is for CNBC Pro subscribers only).
This is the daily notebook of Mike Santoli, CNBC’s senior markets commentator, with ideas about trends, stocks and market statistics.
- The “easy” part of the bounce remains underway. Easy because it shows the indexes lifting from “obvious” key levels but not yet surmounting the first real test. Respectable for sure. Predictable? Maybe. Reliable? Unclear.
- Combination of pre-Fed upward drift, dip-buyers emboldened by the lack of any macro stress arising from the pullback and the resurgence of hot-money short-term speculators in tech-stock options are keeping things green for now.