Equity Market Melt-Up Continues: Dow Futures Top 19,000, S&P Breaks 2,200

In the words of the great philosopher Buzz Lightyear, “to infinity and beyond.” Oil’s incessant liftathon – on hopes that a production freeze at record highs will seriously impact a record seasonal glut – appears to have sparked more panic-buying in stocks overnight as no news whatsoever has the machines incessantly bidding futures, pushing Dow futures over 19,000 and S&P futures over 2,200. Bonds are flat, USDJPY is flat, and offshore yuan is modestly weaker once again.
After the squeeze-fest from the Trump win, oil is now in charge tick for tick of stocks…

This post was published at Zero Hedge on Nov 21, 2016.