S&P 500 futures 1.3% above fair value; Nasdaq 100 futures 1.4% above fair value; DJIA futures 1.3% above fair value
Key factors driving the futures market:
Russian President Putin reportedly says there have been “positive shifts” in Ukraine talks
Positive tone in European markets (Germany’s DAX Index up 3.0%)
Relatively modest losses yesterday and drop in CBOE Volatility Index below 30.00 (currently 29.41) fuel some hope of market gaining some upside momentum in near term
President Biden to talk at 10:15 a.m. ET about new actions against Russia
Treasury Secretary Yellen says she expects a soft landing, and not a recession, for U.S. economy
Senate passes $1.5 trln budget bill
The Wall Street Journal reports that nuclear talks with Iran have broken off as Russia makes demands that would enable it to deal with Iran without the weight of sanctions
UK and EU regulatory bodies investigating Alphabet (GOOG) and Meta Platforms (FB) for anti-competitive practices
Rivian (RIVN) sinks 9% after disappointing earnings report and tempered FY22 production outlook
Oracle (ORCL) comes up shy of fisal Q3 EPS estimate, but issues upside guidance for fiscal Q4
DocuSign (DOCU) down 16% following disappointing guidance