There's a lot going on right now and the markets (and media) have difficulty latching on to more than three or four stories at a time.
Be patient on oil names, as June brings a trifecta of macro events -- the Fed FOMC meeting, OPEC meeting and the all-important G-20 meeting.
If cannabis is descheduled, it is likely it will become federally regulated -- and convenience stores are preparing their case for selling it like tobacco products.
We could see some "sell the news" action after nonfarm payroll headlines hit.
Trade tariffs have a cost for everyone, despite what the administration might say.
It is tough to build a position in this murky market.
Reuters found itself in the strange position of writing a news story to explain why its news stories about the Tiananmen Square massacre weren't appearing on an investment-data platform it created.
Powell may have his hands tied behind his back, as consumer spending, inflation and labour market indicators are still resilient.
Growth will keep falling off a cliff unless Fed Powell comes to the rescue. But it is unclear whether he can, or will.
This could present great trading opportunities down the road, but expect short-term pain as the market tries to quantify the impact.