Reply To: Market Wrap – Markets Bounce Despite 10 Year Rates Surge May 3 2022

#36249
Truman
Participant

S&P 500 futures 0.1% above fair value; Nasdaq 100 futures in-line with fair value; DJIA futures 0.3% above fair value

Key factors driving the futures market:

Mix of hope and fear about stock market’s near-term prospects
10-yr note yield backs down from 3.00% level (currently 2.96%)
Q1 earnings reports mostly better than expected
Some hesitation in front of Wednesday’s FOMC announcement

Pfizer (PFE) tops Q1 estimates, but lowers FY22 outlook; PFE down 1.4%
Avis Budget (CAR) surges 7.1% following much better than expected Q1 earnings result