S&P 500 futures are 0.7% above fair value;
Nasdaq 100 futures are 0.6% above fair value;
DJIA futures are 0.9% above fair value
Key factors driving the futures market:
Carryover momentum in a winning week
Better-than-feared results and positive guidance from FedEx (FDX)
Fed’s stress test results offer reassurance that banks would still be able to lend under a severe recession scenario
Global bond funds saw biggest outflow in week ended June 22 since April 2020, according to BofA
Germany’s Ifo Business Climate Index is weaker than expected
Zendesk (ZEN) soars on report from Wall Street Journal that is close to being acquired by buyout firms