Reply To: Traders Market Weekly: Valuation Matters in Earnings Season


The S&P 500 futures are 0.5% below fair value; the Nasdaq 100 futures are 0.8% below fair value; and the DJIA futures are 0.2% below fair value
Key factors driving the futures market:
Lingering growth concerns in the midst of an inverted yield curve
Hesitation in front of June ISM Non-Manufacturing Index at 10:00 a.m. ET and release of June 14-15 FOMC Minutes at 2:00 p.m. ET
Prevailing inclination to sell into strength
EUR/USD (-0.8% to 1.0181) moves closer to parity with the dollar
Norwegian government intervenes to prevent oil and gas worker strike
OPEC Secretary General, Mohammad Barkindo, died unexpectedly last night
Shanghai has reportedly seen the emergence of new COVID cases, raising concerns about a potential shutdown
Weekly mortgage applications -5.4%, with purchase applications down 4% and refinancing applications down 8% despite a dip in mortgage rates