Reply To: Traders Market Weekly: Only a Sheep Lets Himself be Sheared


Wake-Up Call Briefing

S&P 500 futures 0.4% above fair value; Nasdaq 100 futures 0.4% above fair value; DJIA futures 0.4% above fair value
Key factors driving the futures market:
Lingering sense that sentiment is overly negative and that market is due for a nice near-term bounce
Ongoing hope that Russia and Ukraine can reach a ceasefire agreement soon
Big fallout in Chinese markets (Hang Seng down 5.7% and Shanghai Composite down 5.0%) driving more domestic buying interest
Sharp drop in oil prices (WTI -8.3% to $94.49/bbl) tempers some inflation worries, but the offset is that the drop is due to global growth concerns

Fed begins two-day FOMC meeting; policy decision and updated economic projections due Wednesday at 2:00 p.m. ET
China says it wants to avoid U.S. sanctions related to Russia-Ukraine conflict
More cities in China employ lockdown techniques to deal with COVID case surge; Europe cases rising, too, as BA.2 variant takes root
Delta (DAL), United (UAL), and Southwest (LUV) offer improved Q1 revenue outlooks on improved leisure travel trends
Coupa Software (COUP) down 28% after disappointing with guidance; keeps pressure on high-beta stocks
LME imposes 15% daily price movement limit on all metals