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

#34803
Truman
Participant

S&P 500 futures 0.1% below fair value; Nasdaq 100 futures 0.6% below fair value; DJIA futures in-line with fair value

Key factors driving the futures market:

Assumptions that the equity market is due for a period of consolidation after posting huge gains
Recognition that Fed officials are getting more vocal about likelihood of front-loading rate hikes to get inflation under control
Reports that EU is readying release of legislation (Digital Markets Act) designed to curtail power/competitive influence of big tech companies
No signs of credible progress in Russia-Ukraine peace talks; NSA Adviser Sullivan says war “will not end easily or rapidly”
Cleveland Fed President Mester (FOMC voter) says she thinks fed funds rate of 2.5% by year end looks appropriate and that more rate increases could follow next year
UK reports highest CPI inflation (+6.2% yr/yr) in 30 years
JPMorgan Chase’s CEO Jamie Dimon calls on Biden Administration to develop more domestic gas and energy, according to Axios
Adobe (ADBE) down 3.1% after topping fiscal Q1 expectations, but issuing disappointing guidance for fiscal Q2
General Mills (GIS) jumps 3.3% after beating fiscal Q3 expectations and issuing above-consensus FY22 EPS guidance