MARKET DAILY

Midday market 10/18: Short-cover rally continues, UK government reverses policy

Market reacts positively after news Bank of England will temporarily suspend Quantitative Tightening last night helping SPY open up nearly 2% before reversing

Market opens 10/18 trading session up nearly +1.5% after overnight futures session with European investor sentiment clearly improving after news Bank of England will postpone policy tightening process to give pension funds time to handle crisis. SPY pushes to briefly touch 375 right from open with tech and finance continuing to lead market after signs from initial financial reports showing corporate earnings continue to meet expectations in Q3.

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