There’s No Good Reason Why We Aren’t Up 20 Handles: Taking Stock

The optimism oozing from another round of massive tech earnings beats (QQQs are looking at a two-day rally of nearly 4%), the Korea summit that produced a deal from both sides, and the 10-year falling further below the 3% mark is doing nothing to lift futures.

What gives? You could point to a few things, like some mixed economic data out of Europe (some weaker country GDP prints), weak earnings reactions from a few non-tech names like Royal Bank of Scotland, Starbucks and U.S. Steel (and Sony reported a miss), or it’s possibly just a pullback from yesterday’s rally, coupled with jitters of being long into another weekend filled with uncertainties.