The Traderszone Network

We do have a few items of economic data due today from NZ, Japan, and also a speech from RBA Governor Stevens (more on this coming up)
But … the big driver will again be China

Wall Street took a sudden turn into the red, halting what was a stunning rebound rally, with U.S. stocks closing the day with a loss of more than 1%.

With another day of wild market swings, one psychologist cautioned that people need to take emotions out of decision making during turbulent times.

Both the S&P 500 and Dow Jones industrial average posted their biggest reversals to the downside since Oct. 29, 2008.

Forex news for US trading on August 25, 2015:
– Gold down $16 to $1139
– WTI crude up $1.10 to $39.34
– US 10-year yields up 13 bps to 2.13%
– German 10-year yields up 14 bps to 0.73%
The original title of today’s wrap had something in it about a bounce in US stocks after the PBOC rate cut but a crushing wave of selling tore apart the narrative and left stock markets deeply in the red.

Comfort Systems USA (FIX) is benefiting from a healthy building sector. In Tuesday’s IBD, five of the top 40 industry groups were building-related. Most of them have climbed the ranks in recent weeks. Comfort Systems’ stock broke out from a flat base in big volume on July 21. Shares surged more than 25% past the 24.06 buy point before pulling back.

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Net farm income is forecast to be $58.3 billion in 2015. That’s far worse than the government’s February outlook.