Reply To: Traders Market Weekly: Bear Jitters as Risk Factors Deepen

#37006
Truman
Participant

S&P 500 futures 0.8% below fair value; Nasdaq 100 futures 1.0% below fair value; DJIA futures 0.7% below fair value
Key factors driving the futures market:
Frayed investor sentiment following yesterday’s sharp losses
Ongoing concerns about earnings prospects in a slower growth, high inflation environment
President Biden invokes Defense Production Act to bolster supply of baby formula
Shanghai reopening subways and most activity at its port has resumed
Research points to possibility that average national gas prices could reach $5.00/gal this summer, according to CNBC
Japan’s imports and exports in April were weaker than expected
J.P. Morgan cuts second half 2022 U.S. GDP growth forecast to 2.4% from 3.0%; lowers 1H23 view to 1.5% from 2.1% and 2H 23 to 1.0% from 1.4%
Cisco (CSCO) down 11.6% after posting disappointing results and warning for its July quarter
Kohl’s (KSS) and The Children’s Place (PLCE) down 8.6% and 7.0%, respectively, after missing earnings estimates; Bath & Body Works (BBWI) down 5.1% on disappointing guidance