Commodities and high-flying stocks in focus
It's a wild ride in equity markets at the moment as risk trades lose a bit of steam. One to watch is Tesla, which opened at a record $2129 but quickly reversed down to $1927 in a 6% swoon. It's now stabilized at $2000.
It's a remarkable chart that added as much as 55.7% on news of a stock split two week ago:
The bigger picture is showing some USD strength in the usual risk-on/risk-off trade.
Cable is one spot to watch as it nears Friday's low of 1.3060 from a high of 1.3149 just over an hour ago.
There won't be much in the way of news to jar the market today. The RNC starts later and there will some combative talk against China but that's nothing new.