Reply To: Traders Market Weekly: Stock and Bond Bear Markets Hover

#36346
Truman
Participant

S&P 500 futures 0.4% below fair value; Nasdaq 100 futures 0.7% below fair value; DJIA futures 0.2% below fair value

Key factors driving the futures market:

Underlying concern that market will be subjected once again to inclination to sell into strength
Recognition that more rate hikes are coming with designs on slowing demand, which should adversely impact earnings growth
Most mega-cap stocks trading lower
Bank of England raises Bank Rate 25 bps to 1.00% in 6-3 vote (three dissenters wanted 50 bps increase)
China’s April Caixin Services PMI sinks to 36.2 from 42.0 (50.0 is dividing line between expansion and contraction)
Gallup poll shows just 30% of U.S. adults think now is good time to buy a home (lowest on record)
Booking Holdings (BKNG) jumps 10% after blowing past EPS estimates on 128.7% yr/yr growth in gross bookings
Etsy (ETSY) down 12.2%; eBay (EBAY) down 7.6%; Qorvo (QRVO) down 5.5%; and Wayfair (W) down 5.0% following disappointing results and/or guidance