Economists link today’s firming "SPY futures price" to easing recession fears after strong service sector data. The futures curve shows slight steepening, typically signaling improved growth outlook. Crude oil futures were trading higher in the early New York session by 1.07% to hover around $61.13 per barrel. Monday's oil price rally was exacerbated by a likely short position covering after talks between the US and China resulted in a 90-day pause on tariffs and a substantial reduction of duties. The "SPY futures price" has been trending higher for four consecutive sessions as consumer confidence beat forecasts. Momentum traders are eyeing short-term swing opportunities toward the next resistance cluster.
