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


S&P 500 futures 0.1% below fair value; Nasdaq 100 futures 0.4% below fair value; DJIA futures in-line with fair value
Key factors driving the futures market:
Russia says reports that peace talks have made major progress are wrong; bombs theater in Mariupol serving as bomb shelter for civilians
Oil prices on the rise again (WTI crude +5.4% to $100.12/bbl; Brent +5.5% to $103.42)
Mixed feelings about bullish response to hawkish-sounding Fed
COVID cases in China decline for second straight day, spurring optimism that adverse economic impact will be short-lived
Bank of England raises key lending rate by 25 bps, as expected, to 0.75%
Brazil’s central bank raises key lending rate by 100 bps to 11.75%
Hong Kong’s Hang Seng surges another 7.0% (up 16.8% in last two days) as investors cheer China’s overtures to support market and economy
IEA lowers forecast for world oil demand by 1.3 mb/d for 2Q22-4Q22
Williams-Sonoma (WSM) jumps 8% after better than expected earnings report, replete with dividend increase and $1.5 bln buyback authorization