Not much is going on in markets right now.
Dave Lutz, the head of ETF trading at JonesTrading, is on vacation, as are many of his peers.
Regular readers would know him from his daily “super-quick guides to what traders are talking about,” which we feature.
In an email on this summer Friday, Lutz sent three observations from Disney World, two of which capture the biggest stories in markets that everyone can’t stop talking about.
Here we go:
It’s hot (Yes, this is important. The US is headed for a heat wave this weekend.) There’s a massive European presence at Disney. Lutz added that it would be “interesting to see deterioration as the dollar rallies.” Sure, the pound suffered its biggest loss ever after the UK voted to leave the European Union, and the euro tanked, too. At the same time, the dollar surged, and it could continue to do so if the Federal Reserve becomes more vocal about raising interest rates and if concerns about the British exit from the EU, or Brexit, continue to trigger a flight to US assets. “EVERY SINGLE PERSON UNDER 18 is wandering around the parks playing Pokémon Go. It’s really unreal.” Observers as varied as The New York Times and Wall Street analysts cannot stop talking about this augmented-reality game. Its timing probably couldn’t have coincided better with peak summer vacation time, when things tend to slow down.