{"id":24577,"date":"2025-02-18T09:31:45","date_gmt":"2025-02-18T15:31:45","guid":{"rendered":"https:\/\/www.eoption.com\/mid-morning-look-february-18-2025\/"},"modified":"2025-02-18T09:31:45","modified_gmt":"2025-02-18T15:31:45","slug":"mid-morning-look-february-18-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/mid-morning-look-february-18-2025\/","title":{"rendered":"Mid-Morning Look: February 18, 2025"},"content":{"rendered":"\n
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Mid-Morning Look<\/span><\/b><\/p>\n

Tuesday, February 18, 2025<\/span><\/b><\/p>\n\n\n\n\n\n\n\n
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Index<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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DJ Industrials<\/span><\/b><\/p>\n<\/td>\n

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-113.89<\/span><\/p>\n<\/td>\n

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0.26%<\/span><\/p>\n<\/td>\n

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44,431<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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-2.37<\/span><\/p>\n<\/td>\n

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0.05%<\/span><\/p>\n<\/td>\n

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6,111<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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-28.57<\/span><\/p>\n<\/td>\n

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0.14%<\/span><\/p>\n<\/td>\n

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19,999<\/span><\/p>\n<\/td>\n<\/tr>\n

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Russell 2000<\/span><\/b><\/p>\n<\/td>\n

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1.56<\/span><\/p>\n<\/td>\n

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0.06%<\/span><\/p>\n<\/td>\n

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2,281<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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U.S. stock futures were higher overnight but have since pared gains as remain mixed\/little changed ahead of a busy week of earnings, FOMC<\/span> meeting minutes, economic data, and as markets keep close eyes on Ukraine\/Russia peace possibility as well as any comments from White House on further trade\/tariffs headlines. Early leaders include Energy (XLE<\/span>)m Industrials (XLI<\/span>) and Utilities (XLU<\/span>) while communications (XLC<\/span>) and Consumer Discretionary (XLY<\/span>) lag; crypto stocks slide behind a pullback in Bitcoin while gold prices extend its move higher to fresh record levels. The yield on the benchmark 10-year Treasury notes briefly dipped then pushed higher after the New York Fed’s February Empire State business conditions index came in at a stronger-than-expected 5.7, versus -12.6 in January. April gold prices +0.9% or $26 to $2,927 an ounce (off recent intraday highs $2,968.50). Goldman Sachs Group Inc. raised its year-end gold target to $3,100 an ounce on central-bank buying and inflows into bullion-backed exchange-traded funds.<\/p>\n

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Oil futures edged higher as OPEC<\/span>+ considers delaying output increases and Kazakhstan’s crude exports through Russia were slowed by a Ukrainian drone attack. Also, top US<\/span> and Russian officials started meeting in Saudi Arabia on Tuesday to discuss how to end the war in Ukraine. US<\/span> Secretary of State Rubio, NSA<\/span> Waltz, Middle East envoy Witkoff represent Washington, while Moscow has sent Foreign Minister Lavrov and aide to President Putin Ushakov. Washington has insisted the talks do not represent the start of negotiations but said they had been organized to see whether Russia was “serious” about ending the war. Russian President Putin has already demanded that Ukraine withdraw its troops from the four annexed regions and renounce its bid to join NATO<\/span> as part of any prospective peace deal. Ukraine President Zelenskyy has said his country will not recognize any agreements reached from talks it is not involved in.<\/p>\n

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Bank America said in its global fund manager survey that investor “cash levels are at 15-year lows as investors bullish, long stocks. Bank America said cash levels (3.5%) plunge to the lowest since 2010 and equity investors rotate to bond sensitives & Europe as 82% say no recession, 77% expect Fed cuts, US<\/span> exceptionalism peaks (89% say US<\/span> stocks overvalued), and trade war seen as no more than a (#1) tail risk. Fear of global recession at a 3-year low, 52% expect soft landing for global economy, 36% no landing, 6% hard landing; optimism on rates in ’25 endures, 27% expect one Fed rate cut in ’25, 51% expect two or more cuts, vs 1% saying Fed hikes. On Asset Allocation: Overweight stocks (35%), UW<\/span> bonds (11%), UW<\/span> cash (2stdev below average); Says investors “long Mag7” remains #1 most crowded trade; but best performing asset classes in ’25 now ranked global stocks (34%), gold (22%), US<\/span> equities (18%), and best performing equity indices now ranked EuroStoxx (22%), Nasdaq (18%), Hang Seng (18%)… shows peak in investor conviction of US<\/span> exceptionalism.”<\/p>\n

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Economic Data<\/p>\n