Chart 1: S&P 500 Futures - Monthly


 Even though the Federal Reserve has increased its   September, the fed funds rate is still relatively low by historical standards. Keep in mind that in spite of the U.S. federal funds rate hikes from the Federal Reserve,  rates are still historically low. Remember the fed funds  


Source: USDA Chart 2: NASDAQ Futures - Monthly


With some overseas interest rates remaining near, or at historical lows and in many countries interest rates are still negative, there is still plenty of accommodation left in the domestic and international banking systems.


While history has shown that there has been a strong direct correlation between rising global trade tensions and falling stock markets, the current trade tensions may only be able to temporarily keep stock index   dominates and takes stock index futures higher.


Alan Bush


E: alan.bush@admis.com 


Source: USDA Chart 3: US FED Funds Rate


Source: Tradingeconomics.com, Federal Reserve


17 | ADMISI - The Ghost In The Machine | July/August 2018


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