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

#39361
Truman
Participant

S&P 500 futures are up 0.4% above fair value;
Nasdaq 100 futures are up 0.2% above fair value;
DJIA futures are 0.6% above fair value

Key factors driving the futures market:

China shortens quarantine period for inbound visitors and Shanghai and Beijing report zero COVID cases for first time since February
A number of banks, including Morgan Stanley (MS) and Goldman Sachs (GS), raise dividends and/or share buyback plans following stress tests
Expectation for quarter-end rebalancing activity to drive upside in stocks
ECB President Lagarde not expecting recession and says ECB can move faster on rate hikes if needed
Saudi Arabia and UAE have limited spare capacity to raise output, according to Reuters
German consumer sentiment hits record low
Nike (NKE) tops fiscal Q4 EPS estimate, but sees inventory surge, gross margin contraction, and issues soft fiscal Q1 revenue guidance