Old/New was the talk of the town yesterday.
Saw at least 30k calls purchased in Dec. Regardless of whether they were short covers or not, that is still an impressive amount. That got the futures going as locals hedged into the Dec and that attracted more buyers while the best the July could do was just lay there.
Spreaders joined the fray selling the July and buying the Dec to try and get on board for the day trade.
Another big story is the purchase of Smithfield by a Chinese firm. The largest purchase of a US company from China. $5 Billion. $7 Billion if you include debt. Not a threat but basically a "China needs American pork" story. Both for demand reasons and safety/clean food reasons.
Gold flirting with $1400. Stocks look to rebound from yesterday's losses. The 10 year yield is 2.14% with talk of the FED exit sending the Nikkei down 5% overnight.
We get some growth figures today with GDP, home sales and initial jobless claims. Let's see if the FED withdraw talk is warranted.
End of month tomorrow may also bring some fireworks.