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

#34842
Truman
Participant

S&P 500 futures 0.6% above fair value; Nasdaq 100 futures 0.5% above fair value; DJIA futures 0.7% above fair value
Key factors driving the futures market:

Speculation that yesterday’s close below the 200-day moving average (4475) for the S&P 500 will spur buy-the-dip efforts
Relief that preliminary March PMI readings for the eurozone were better than expected and still indicative of expansion activity, albeit at a slower pace than seen in February
Mega-cap stocks catching a bid in pre-market action
G7, NATO, and European Council meeting in Brussels to discuss ongoing response to Russia’s invasion of Ukraine
Blackrock CEO Larry Fink says in shareholder letter that “Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades.”

Airline CEOs lobbying for end of mask mandate on planes
KB Home (KBH) down 4.0% after missing fiscal Q1 earnings and reporting flat home deliveries
Darden Restaurants (DRI) drops 2.2% following earnings miss and below consensus FY22 EPS guidance