Global Markets Live: Market Volatility, Sector Shifts, and the Bitcoin Boom

The week was marked by extraordinary stock movements, with VIOT surging 83.64%, GPRO up 37.40%, and HGAS gaining 38.02%. Conversely, VSTD plummeted 70.00%, EPWKF dropped 53.33%, and SUH fell 42.86%. These extreme swings suggest heightened volatility, potentially driven by specific news or market anomalies. Investors should exercise caution, as such movements may not reflect underlying fundamentals.

Energy, mining, and banking sectors outperformed, buoyed by rising oil and copper prices. Oil's positive impact on energy sectors and copper's influence on mining highlight the role of commodities in driving sectoral performance. Conversely, real estate-related sectors faced headwinds, possibly due to interest rate concerns or regulatory changes. This rotation underscores the importance of macro factors in shaping sectoral trends.

Bitcoin ETFs saw their largest inflow since January, with $730.9 million in net inflows, as Bitcoin rebounded above $80,000. This surge in institutional interest suggests growing confidence in digital assets, potentially driven by regulatory developments and performance. However, the cryptocurrency market remains volatile, and investors should monitor regulatory and macroeconomic factors.

Agricultural commodities like wheat, sugar, and cotton, along with energy commodities, outperformed, while gasoline and precious metals faced downward pressure. Copper's 6.75% gain highlights its role in industrial and mining sectors. These movements reflect global economic conditions, with agricultural demand and energy dynamics driving prices.

Currency markets experienced volatility, with mixed movements in major pairs like EURUSD and GBPUSD. This volatility may stem from interest rate expectations and economic data releases. Upcoming events, including ANZ Job Advertisements, GDP Growth Rate, and NFIB Business Optimism Index, will likely influence market sentiment and currency movements, requiring investors to stay vigilant.

The upcoming earnings season, with companies like 0O2B, 0GX2, and 0I3I reporting, may introduce volatility in respective sectors. Dividend payments from GSF, TGA, and DSW could attract income-focused investors. These events, combined with economic data releases, will shape market direction in the coming weeks.

Global/UK/US Closes:

- Fact: VIOT closed at 1.78, up 83.64% on the day (Evidence: day_mover).

- Fact: GPRO closed at 1.69, up 37.40% on the day (Evidence: day_mover).

- Fact: HGAS closed at 0.0559, up 38.02% on the day (Evidence: day_mower).

- Inference: These significant daily gains suggest heightened volatility or specific news-driven movements in these stocks.

Movers:

- Fact: VIOT (+83.64%), GPRO (+37.40%), HGAS (+38.02%), NCL (+300.00%), WINT (+100.00%), BBCQ (+95.20%), FCUV (+33.57%), LHAI (+34.02%), CHAR (+35.29%) are among the top gainers (Evidence: day_mover).

- Fact: VSTD (-70.00%), EPWKF (-53.33%), SUH (-42.86%), TCRX (-42.80%), FIN (-40.47%), CDT (-38.51%), WETO (-33.84%), FOXO (-33.33%), TANH (-32.34%), CARM (-30.00%) are among the top decliners (Evidence: day_mover).

- Inference: The extreme movements in both directions indicate potential market anomalies or specific events impacting these stocks.

Sectors:

- Fact: Oil, Gas and Coal, Industrial Metals and Mining, Banks show positive news and data sway (Evidence: sector_view).

- Fact: Real Estate Investment Trusts, Real Estate Investment and Services, Mortgage Real Estate Investment Trusts, Real Estate show negative news and data sway (Evidence: sector_view).

- Inference: Energy and mining sectors are favored, while real estate-related sectors face headwinds, possibly due to interest rate concerns or regulatory changes.

FCA Shorts:

- Fact: Notable short positions include BVS (18.97%), IBST (16.29%), CWR (12.98%), SMWH (12.21%), OCDO (11.82%), CRST (11.39%), CHG (11.34%), BREE (11.2%), WIZZ (11.19%), GEN (10.97%) (Evidence: shorts).

- Inference: These stocks may be under pressure from short-selling activity, potentially impacting their performance.

Macro Transmission:

- Fact: Oil (WTI.COMMODITY, BRENT.COMMODITY) positively impacts Oil, Gas and Coal, Energy, and Alternative Energy sectors (Evidence: macro_transmission).

- Fact: Copper (COPPER.COMMODITY) positively influences Industrial Metals and Mining, Precious Metals and Mining, and Basic Resources (Evidence: macro_transmission).

- Inference: Commodity price movements are driving sectoral performance, with oil and copper being key influencers.

FX:

- Fact: EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, USDCHF show mixed movements (Evidence: macro_tape).

- Inference: Currency markets are experiencing volatility, potentially influenced by interest rate expectations and economic data.

Commodities:

- Fact: WHEAT.COMMODITY (+14.83%), SUGAR.COMMODITY (+21.61%), HEATING_OIL_NYH.COMMODITY (+4.37%), COTTON.COMMODITY (+16.42%), CORN.COMMODITY (+20.57%), COPPER.COMMODITY (+6.75%) show positive 5-session momentum (Evidence: instrument_view).

- Fact: GASOLINE_US.COMMODITY (-10.16%), ALUMINUM.COMMODITY (-2.79%), COFFEE_MILD_ARABICA.COMMODITY (-2.71%), GOLD-USD (-2.60%) show negative momentum (Evidence: instrument_view).

- Inference: Agricultural and energy commodities are outperforming, while gasoline and precious metals face downward pressure.

Bitcoin/News:

- Fact: Bitcoin ETFs see largest inflow since January, with $730.9 million in net inflows on Sept. 3 (Evidence: macro_news).

- Fact: Bitcoin rebounds above $80,000 amid sustained rally in digital assets (Evidence: macro_news).

- Inference: Institutional interest in Bitcoin is growing, potentially driven by its performance and regulatory developments.

Earnings:

- Fact: Upcoming earnings include 0O2B (Finance and Credit Services), 0GX2 (Software and Computer Services), 0I3I (Medical Equipment and Services), 0I50 (Travel and Leisure), 0IUJ (Personal Goods), 0KO8 (Electricity), 0OG6 (Waste and Disposal Services), 0ON7 (Automobiles and Parts) (Evidence: earnings_next).

- Inference: Earnings season is approaching, which may introduce volatility in respective sectors.

Dividends:

- Fact: Upcoming dividends include GSF (Closed End Investments), TGA (Industrial Metals and Mining), DSW (Investment Banking and Brokerage Services), ACGLO (Unknown), ACGLN (Unknown), UTG (Real Estate), MNG (Investment Banking and Brokerage Services), HPQ (Unknown), FSG (Investment Banking and Brokerage Services), BRK (Investment Banking and Brokerage Services) (Evidence: dividends_next).

- Inference: Dividend payments may attract income-focused investors to these stocks.

Calendar:

- Fact: Key events include ANZ Job Advertisements (AU), Coincident Index (JP), Industrial Production (DE), Unemployment Rate (CH), Sentix Investors Sentiment (EU), GDP Growth Rate (EU), NFIB Business Optimism Index (US), Redbook (US) (Evidence: calendar_next).

- Inference: Economic data releases will likely influence market sentiment and currency movements.

Summary:

The market exhibits mixed performance with extreme movers in both directions, indicating heightened volatility. Energy and mining sectors are favored, while real estate faces headwinds. Commodity prices, particularly oil and copper, are driving sectoral performance. FX markets are volatile, and Bitcoin is experiencing institutional inflows. Earnings season and dividend payments are upcoming, which may impact specific stocks and sectors. Economic data releases will be closely watched for market direction.

Corrected Facts and Analysis:

Global/UK/US Closes:

- Fact: VIOT closed at 1.78, up 83.64% on the day. *(Evidence: day_mover)*

Correction: No correction needed.

- Fact: GPRO closed at 1.69, up 37.40% on the day. *(Evidence: day_mover)*

Correction: No correction needed.

- Fact: HGAS closed at 0.0559, up 38.02% on the day. *(Evidence: day_mower)*

Correction: Typo in evidence source. Should be `day_mover`.

Inference: These significant daily gains suggest heightened volatility or specific news-driven movements in these stocks.

Correction: No correction needed.

Movers:

- Fact: VIOT (+83.64%), GPRO (+37.40%), HGAS (+38.02%), NCL (+300.00%), WINT (+100.00%), BBCQ (+95.20%), FCUV (+33.57%), LHAI (+34.02%), CHAR (+35.29%) are among the top gainers. *(Evidence: day_mover)*

Correction: No correction needed.

- Fact: VSTD (-70.00%), EPWKF (-53.33%), SUH (-42.86%), TCRX (-42.80%), FIN (-40.47%), CDT (-38.51%), WETO (-33.84%), FOXO (-33.33%), TANH (-32.34%), CARM (-30.00%) are among the top decliners. *(Evidence: day_mover)*

Correction: No correction needed.

Inference: The extreme movements in both directions indicate potential market anomalies or specific events impacting these stocks.

Correction: No correction needed.

Sectors:

- Fact: Oil, Gas and Coal, Industrial Metals and Mining, Banks show positive news and data sway. *(Evidence: sector_view)*

Correction: No correction needed.

- Fact: Real Estate Investment Trusts, Real Estate Investment and Services, Mortgage Real Estate Investment Trusts, Real Estate show negative news and data sway. *(Evidence: sector_view)*

Correction: No correction needed.

Inference: Energy and mining sectors are favored, while real estate-related sectors face headwinds, possibly due to interest rate concerns or regulatory changes.

Correction: No correction needed.

FCA Shorts:

- Fact: Notable short positions include BVS (18.97%), IBST (16.29%), CWR (12.98%), SMWH (12.21%), OCDO (11.82%), CRST (11.39%), CHG (11.34%), BREE (11.2%), WIZZ (11.19%), GEN (10.97%). *(Evidence: shorts)*

Correction: No correction needed.

Inference: These stocks may be under pressure from short-selling activity, potentially impacting their performance.

Correction: No correction needed.

Macro Transmission:

- Fact: Oil (WTI.COMMODITY, BRENT.COMMODITY) positively impacts Oil, Gas and Coal, Energy, and Alternative Energy sectors. *(Evidence: macro_transmission)*

Correction: No correction needed.

- Fact: Copper (COPPER.COMMODITY) positively influences Industrial Metals and Mining, Precious Metals and Mining, and Basic Resources. *(Evidence: macro_transmission)*

Correction: No correction needed.

Inference: Commodity price movements are driving sectoral performance, with oil and copper being key influencers.

Correction: No correction needed.

FX:

- Fact: EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, USDCHF show mixed movements. *(Evidence: macro_tape)*

Correction: No correction needed.

Inference: Currency markets are experiencing volatility, potentially influenced by interest rate expectations and economic data.

Correction: No correction needed.

Commodities:

- Fact: WHEAT.COMMODITY (+14.83%), SUGAR.COMMODITY (+21.61%), HEATING_OIL_NYH.COMMODITY (+4.37%), COTTON.COMMODITY (+16.42%), CORN.COMMODITY (+20.57%), COPPER.COMMODITY (+6.75%) show positive 5-session momentum. *(Evidence: instrument_view)*

Correction: No correction needed.

- Fact: GASOLINE_US.COMMODITY (-10.16%), ALUMINUM.COMMODITY (-2.79%), COFFEE_MILD_ARABICA.COMMODITY (-2.71%), GOLD-USD (-2.60%) show negative momentum. *(Evidence: instrument_view)*

Correction: Typo in COFFEE_MILD_ARABICA.COMMODITY. Should be `COFFEE_MILD_ARABICA.COMMODITY`.

Inference: Agricultural and energy commodities are outperforming, while gasoline and precious metals face downward pressure.

Correction: No correction needed.

Bitcoin/News:

- Fact: Bitcoin ETFs see largest inflow since January, with $730.9 million in net inflows on Sept. 3. *(Evidence: macro_news)*

Correction: No correction needed.

- Fact: Bitcoin rebounds above $80,000 amid sustained rally in digital assets. *(Evidence: macro_news)*

Correction: No correction needed.

Inference: Institutional interest in Bitcoin is growing, potentially driven by its performance and regulatory developments.

Correction: No correction needed.

Earnings:

- Fact: Upcoming earnings include 0O2B (Finance and Credit Services), 0GX2 (Software and Computer Services), 0I3I (Medical Equipment and Services), 0I50 (Travel and Leisure), 0IUJ (Personal Goods), 0KO8 (Electricity), 0OG6 (Waste and Disposal Services), 0ON7 (Automobiles and Parts). *(Evidence: earnings_next)*

Correction: No correction needed.

Inference: Earnings season is approaching, which may introduce volatility in respective sectors.

Correction: No correction needed.

Dividends:

- Fact: Upcoming dividends include GSF (Closed End Investments), TGA (Industrial Metals and Mining), DSW (Investment Banking and Brokerage Services), ACGLO (Unknown), ACGLN (Unknown), UTG (Real Estate), MNG (Investment Banking and Brokerage Services), HPQ (Unknown), FSG (Investment Banking and Brokerage Services), BRK (Investment Banking and Brokerage Services). *(Evidence: dividends_next)*

Correction: No correction needed.

Inference: Dividend payments may attract income-focused investors to these stocks.

Correction: No correction needed.

Calendar:

- Fact: Key events include ANZ Job Advertisements (AU), Coincident Index (JP), Industrial Production (DE), Unemployment Rate (CH), Sentix Investors Sentiment (EU), GDP Growth Rate (EU), NFIB Business Optimism Index (US), Redbook (US). *(Evidence: calendar_next)*

Correction: No correction needed.

Inference: Economic data releases will likely influence market sentiment and currency movements.

Correction: No correction needed.

Publish/No-Publish Checklist:

- Fact Accuracy: All facts are supported by evidence, with minor typos corrected.

- Causality: Inferences are supported by evidence but remain speculative. Soften wording where necessary.

- Coverage: Coverage is comprehensive but ensure all data is up-to-date.

- Conflicts: No conflicting data series identified.

- Risks: Missing risks are minimal; ensure all potential risks are considered in inferences.

- Percentages: All percentages are accurate and properly cited.

- Wording: Some inferences could be softened to avoid overstatement.

Recommendation: Publish with minor revisions to soften inferences and correct typos.

Today's internal evidence confirms and refines Sunday's market narrative, highlighting sector shifts and macroeconomic influences across global markets. In the UK, the Construction and Materials sector exhibits upward momentum, driven by acquisition news and exploration updates, a marked shift from Sunday's neutral stance. Banks also demonstrate strength, with multiple share buyback programs announced, aligning with Sunday's positive outlook. However, Real Estate and Mortgage Real Estate Investment Trusts face downward pressure, consistent with Sunday's bearish view, due to interest rate concerns and regulatory updates. In the US and global markets, the Technology Hardware and Equipment sectors are buoyed by AI-related developments and interim results, refining Sunday's broad volatility narrative. Oil, Gas, and Coal sectors remain robust, supported by rising oil prices and dividend payments, confirming Sunday's positive outlook. Health Care shows mixed signals, with drug approvals and expansions offset by oversubscribed retail offers, further refining Sunday's volatility thesis.

Notable stocks include ASHM, which reports strong profit growth but faces revenue and EBITDA declines, and TBCG and DSCV, flagged as quality momentum plays in Banks and Technology Hardware, respectively. In FX, the yen strengthens against the dollar, and commodities see iron ore breaking the $100 mark, both refining Sunday's volatility context. Bitcoin's institutional inflows remain unconfirmed, but crypto-related AI strategies gain traction, suggesting continued interest. Macro data highlights include Japan's GDP growth slowing to 0.3% QoQ and the EU's GDP growing 1% YoY, refining Sunday's focus on economic data. Tomorrow's calendar features Chinese trade data, US consumer inflation expectations, and Japanese eco-watchers surveys, which will further test Sunday's thesis of economic data in focus. Data Limitations:

- No direct Bitcoin price or institutional flow data today. - Some sectors lack specific price movements or macro indicators.

- Abbreviated cash flow disclosures and unaudited results limit confidence in certain financial metrics. Asset Class Analysis:

1. Equities:

- UK Construction and Materials: Upward momentum driven by acquisitions and exploration updates. - UK Banks: Strengthened by share buyback programs. - Real Estate and REITs: Downward pressure due to interest rate concerns. - US Technology Hardware: Buoyed by AI developments and interim results. - Oil, Gas, and Coal: Robust performance supported by oil prices and dividends.

- Health Care: Mixed signals from approvals, expansions, and oversubscribed offers. 2. FX:

- Yen: Strengthens against the dollar. 3. Commodities:

- Iron Ore: Breaks the $100 mark. 4. Crypto:

- Bitcoin: Institutional inflows unconfirmed, but AI strategies gain traction.

Fact vs. Inference:

- Fact: Share buyback programs in UK Banks, AI-related developments in Technology Hardware, and iron ore price movements. - Inference: Continued interest in Bitcoin based on crypto-related AI strategies, despite unconfirmed institutional inflows. Tomorrow's Verified Watch List:

- Chinese trade balance. - US consumer inflation expectations. - Japanese eco-watchers surveys.

Close in one line — Today's evidence confirms UK sector shifts, refines global tech and energy strength, and highlights macro data's ongoing influence, while Bitcoin's institutional narrative remains indirect.

Next session — Chinese trade balance, US consumer inflation expectations, and Japanese eco-watchers surveys will test Sunday's economic data focus thesis.

Evidence limits — No Bitcoin price or flow data; some sectors lack specific price movements or macro indicators.

Today's internal evidence confirms and refines Sunday's market narrative, highlighting both continuity and emerging shifts across asset classes. This aligns with Sunday's FX volatility thesis, though the specific sector movements differ. Notably, Household Goods and Home Construction sectors declined, contrary to Sunday's neutral stance, while Media and Precious Metals & Mining sectors advanced, confirming Sunday's positive tilt.

These sector-specific adjustments underscore the dynamic nature of market responses. In the US, tech stocks exhibited mixed performance, with Intel (+9.27%) and Oracle (+3.79%) leading gains, while Nvidia (-1.79%) and Palantir (-1.77%) retreated.

This refines Sunday's extreme stock movements thesis, indicating a more nuanced tech sector outlook. Ford's decline (-3.42%) in Consumer Discretionary further supports Sunday's commodities outperformance narrative, as macro data, including rising US Treasury yields and China's robust August trade surplus ($119.09 billion), continues to favor commodity-linked sectors.

Bitcoin's narrative evolves with Hut 8 Corp.'s AI pivot and the $35 billion Anthropic deal, suggesting a deepening crypto-AI convergence. While direct institutional Bitcoin inflows remain unobserved, these developments refine Sunday's Bitcoin rebound narrative, pointing to broader technological and financial integration.

Material data limitations persist, including the absence of full-market close prices, limited FX and commodity data, and indirect Bitcoin evidence. These constraints necessitate cautious interpretation, emphasizing the importance of verified data in tomorrow's watch list, which includes US Consumer Inflation Expectations and Chinese CPI/PPI data.

Close in one line — UK markets flat, sterling mixed; US tech stocks diverge, macro data supports commodities; Bitcoin's AI linkages deepen.

Next session — US inflation expectations, Chinese CPI/PPI, and ECB speeches.

Evidence limits — No full-market close prices; FX and commodity data limited to headlines; Bitcoin evidence indirect.

Today's INTERNAL_EVIDENCE confirms, refines, and in some cases contradicts the SUNDAY_CONTEXT thesis of market volatility, sector shifts, and Bitcoin's institutional inflows. Here's a detailed breakdown:

UK and Global Markets:

- Confirmation: The evidence supports the thesis of sector rotation, with Industrial Engineering and Financial Services showing positive sentiment and data sway, while Industrial Goods and Services are negative. This aligns with Sunday's context of sectoral shifts. - Refinement: While Sunday's context mentioned extreme stock movements, today's evidence does not provide specific index price movements, limiting our ability to confirm this aspect.

However, individual stock movements like ANP and SVS show quality and momentum, suggesting continued volatility in specific stocks. - Contradiction: Real Estate, which was struggling according to Sunday's context, shows positive sentiment today, particularly in Real Estate Investment and Services, with stocks like SVS and LSL highlighted as quality long candidates. US/Global Tape:

- Confirmation: The global focus on commodities, particularly gold and oil, is evident. China's increased gold reserves and JPMorgan's gold price target of $5,000/oz confirm the ongoing interest in precious metals.

Oil prices breaching $100 a barrel due to Middle East tensions align with the commodities outperformance mentioned on Sunday. - Refinement: The evidence provides more granular details on specific commodities like copper and silver, which were not explicitly mentioned in Sunday's context but are now shown to be active areas of interest. Important Stocks/Sectors:

- Confirmation: Health Care continues to show strength, with stocks like ANP, BVXP, and AMS highlighted as quality long candidates, supporting Sunday's context of sector rotation. - Refinement: The evidence introduces new sectors like Leisure Goods and Closed End Investments, which were not mentioned on Sunday, showing positive sentiment and data sway.

- Contradiction: Industrial Goods and Services, which were not specifically mentioned in Sunday's context, show negative sentiment today, contrasting with the positive outlook for other industrial sectors. Macro Data and FX/Commodities:

- Confirmation: The focus on FX volatility is confirmed, with movements in GBPUSD, EURUSD, and USD/CAD highlighted. The impact of oil prices on currencies and inflation is a recurring theme, aligning with Sunday's context. - Refinement: Specific commodity movements, such as copper and silver, provide additional context to the broader commodities outperformance mentioned on Sunday.

- Limitation: There is no direct evidence on Bitcoin's institutional inflows today, limiting our ability to confirm this aspect of Sunday's thesis. Tomorrow's Calendar/Earnings:

- Highlight: Tomorrow's key events include the ECB Interest Rate Decision and Press Conference, US PPI and Jobless Claims data, and the OPEC Monthly Report. These events could provide further insights into inflation, monetary policy, and commodity markets, potentially impacting the sectors and assets discussed today.

Close in one line — Today's evidence confirms sector rotation and commodity focus, refines the understanding of specific sectors and commodities, and contradicts the struggling real estate narrative, while limitations exist in confirming Bitcoin inflows and index price movements.

Next session — Key events include ECB rate decision, US PPI, and OPEC report, which could influence inflation, monetary policy, and commodity markets.

Evidence limits — No direct evidence on Bitcoin institutional inflows or full-market index price movements.

Today's market dynamics reinforce Sunday's thesis of heightened volatility and sectoral rotations, with extreme price movements observed across various asset classes. In Pharmaceuticals and Biotechnology, HCM and GNS are confirmed as quality + momentum long candidates, while GELS surged 25.66% on the day. This aligns with Sunday's context of extreme stock movements. The sector's overall sway remains positive at +1.00, driven by favorable news sentiment and technical indicators.

UK and Global Markets:

The UK market presents mixed signals, with Banks and Energy sectors outperforming, while Household Goods and Home Construction sectors decline. Banks maintain a +1.00 sway, supported by positive news and technicals, consistent with Sunday's sectoral rotation thesis. The Energy sector, also at +1.00 sway, benefits from rising oil prices and Middle East tensions, refining Sunday's energy outperformance prediction. US/Global Tape:

While direct US market data is limited, global news highlights rising inflation concerns, Treasury yields, and oil prices, impacting markets.

This aligns with Sunday's focus on FX volatility and economic data. Stocks/Sectors:

- Pharmaceuticals and Biotechnology: Confirmed as active, with GNS's share buyback and preliminary results supporting the sector's upward sway. - Energy: Confirmed as a strong performer, with ENQ and AXL as long candidates, and POS in Oil, Gas and Coal.

- Banks: BGEO and TBCG are highlighted as quality + momentum longs, confirming the sector's positive sway. - Real Estate: Downward pressure is observed, with Real Estate, Real Estate Investment Trusts, and Mortgage Real Estate Investment Trusts all showing negative sways, refining Sunday's thesis on real estate struggles. Macro Data:

No direct macro data today, but global news on inflation, oil prices, and economic indicators supports Sunday's focus on economic data in focus.

FX/Commodities/Bitcoin:

Limited direct evidence, but global news mentions rising oil prices, gold, and Bitcoin, aligning with Sunday's context on commodities and Bitcoin. Material Data Limitations:

Today's analysis is constrained by limited direct US market data, FX/commodity prices, and the absence of macro data or earnings reports for today or tomorrow. Tomorrow's Verified Watch List:

Key events include US Producer Price Index, ECB decisions, and US inflation data, which are expected to significantly impact markets and sector rotations, as anticipated in Sunday's context.

Close in one line — Today's market activity confirms Sunday's thesis of volatility and sector rotations, with Pharmaceuticals, Energy, and Banks leading, while Real Estate struggles, amid global inflation and geopolitical concerns.

Next session — Focus on US PPI, ECB decisions, and US inflation data, which could drive market movements and sector rotations.

Evidence limits — Limited direct US market data, FX/commodity prices, and absence of macro data or earnings reports for today or tomorrow.