Reply To: Traders Market Weekly: Independence, Precious and Formative

#39343
Truman
Participant

S&P 500 futures are 0.4% above fair value;
Nasdaq 100 futures are 0.3% above fair value;
DJIA futures are 0.4% above fair value

Key factors driving the futures market:

Rebound momentum carrying over from last week
Expectation that quarter-end rebalancing will drive further upside
Russia experiences fist major foreign debt default since 1918
IMF cuts U.S. 2022 GDP to 2.9% from 3.7%; says U.S. should narrowly avoid recession
G7 leaders pushing import ban on Russian gold and looking at plan to put price cap on Russian oil
China loosens some COVID restrictions
San Francisco Fed President Daly (non-FOMC voter) notes she sees additional tightening beyond the neutral rate
TSA reports highest traffic levels since early 2020