Reply To: Traders Market Weekly: Memorial Weekend a Time for Reflection


S&P 500 futures are 0.4% above fair value; Nasdaq 100 futures are 0.4% above fair value; and Dow Jones Industrial Average futures are 0.6% above fair value

Key factors driving the futures market:

Dow component Salesforce, Inc. (CRM) surges 9% after raising FY23 profit outlook
Shanghai ends its two-month lockdown
Presumption that new inflows will be seen on first trading day of new month
Atlanta Fed President Bostic says prior comment about possible “pause” in September should not be interpreted as being a Fed put
Federal Reserve’s program to reduce size of balance sheet has official start today
Treasury Secretary Yellen admits that inflation is too high
ECB’s Holzmann suggests a 50-basis point rate hike is needed at ECB’s July meeting to help contain record inflation
Mortgage applications to purchase a home decline 1% week-over-week and 14% year-over-year