The S&P 500 is at another record high, up 11 points to 1939 after falling as low as 1922.
Traders have latched on to soothing words from hedge fund mogul David Tepper. Last month Tepper told a conference that he’s “nervous”. He said “I’m not saying to go short, just don’t be too friggin’ long”.
Today CNBC spoke with Tepper and he said that his concerns have been “alleviated”
I just spoke briefly to David Tepper this morning who said his view has changed somewhat since last month when he spoke at a conference and said, famously, it is nervous time in the markets for a number of global macro reasons dealing with Central Banks. Now that the ECB has made this somewhat historic decision today he indicates to me that he is feeling a little bit better.
From here, I’d expect to see risk trades pared on nerves ahead of non-farm payrolls.
