Reply To: Traders Market Weekly: MAR19-25 — Some Sheep may be Sheared

#34751
Truman
Participant

S&P 500 futures 0.2% above fair value; Nasdaq 100 futures 0.1% below fair value; DJIA futures 0.1% above fair value
Key factors driving the futures market:
Assumptions that market will take some time to consolidate last week’s big gains
Impression that Russia-Ukraine situation is getting bogged down and that a ceasefire agreement won’t be reached as soon as hoped
Higher oil prices as reports indicate EU officials are mulling embargo on Russian oil; Houthi rebels attack Saudi Arabian oil refinery
Treasury yields jump on inflation and rate-hike concerns
Boeing (BA) slumps 5.9% following report of crash of China Eastern Boeing 737
Anaplan (PLAN) to be acquired by Thoma Bravo for $10.7 billion, or $66.00 per share, in cash
Berkshire Hathaway (BRK.B) to acquire Allegheny Corp. (Y) for ~$11.6 billion, or $848.02 per share, in cash
Reuters reports Australia has banned export of alumina and aluminum ores to Russia
Fed Chair Powell to give speech at 12:00 p.m. ET on economic outlook to NABE Conference
China eases lockdown measures in Shenzhen but tightens measures elsewhere; Shanghai Disney closed until further notice
Research calls of note:
Upgrades: APD, AWI, ASB, BB, CBSH, DB, DUOL, MANU
Downgrades: CHKP, EHTH, FBHS, HUN, IMGN, IBP, JOAN
WTI crude futures +4.0% to $108.86/bbl; Brent crude futures +4.4% to $112.68/bbl
10-yr note yield +5 bps to 2.20%; 2-yr note yield +5 bps to 2.01%
There is no U.S. economic data of note today