Reply To: Traders Market Weekly: Fear and Greed in Las Vegas.


S&P 500 futures 0.9% below fair value; Nasdaq 100 futures 2.2% below fair value; DJIA futures 0.1% above fair value
Catalysts for the disposition of the futures market:
Disappointing earnings results and guidance from Meta Platforms (FB), which is down 22%
Shock value of FB’s decline, which is weighing heavily on sentiment and belief in sustainability of recent rebound effort
Weakness in growth stocks
Festering concerns about central bank tightening efforts as Bank of England raises rates 25 bps to 0.50% in first back-to-back hike since 2004
Earnings guidance in general not as robust as past quarters, feeding worries about peak margins and waning growth
Qualcomm (QCOM) posts better than expected earnings and guidance, yet stock slips with broader market sentiment
Honeywell (HON) disappoints with FY22 guidance; HON -3.5%
Merck (MRK) beats, but FY22 EPS guidance below consensus; MRK -0.7%
ECB leaves its key rates unchanged, as expected, but says will discontinue net asset purchases under PEPP at end of March
Senate holding hearings today on President Biden’s Fed Governor nominees