Reply To: Traders Market Weekly: Inflation Obsession in Worsening Liquidity

#45221
Truman
Participant

The S&P 500 futures are down 47 points and are trading 0.3% below fair value. The Nasdaq 100 futures are down 205 points and are trading 1.7% below fair value. The Dow Jones Industrial Average futures are down 252 points and are trading 0.8% above fair value.

Equity futures dropped noticeably following today’s release of the Employment Situation report for September, which reflected continued growth in headline employment and monthly average hourly earnings, giving the Fed room to continue its aggressive rate hike campaign.

Treasury yields shot higher following the release. The 2-yr note yield, at 4.28% a short time ago, now sits at 4.32%. The 10-yr note yield, at 3.83% a short time ago, now sits at 3.89%.

The US Dollar Index also shot higher following the release. The US Dollar Index was at 112.09 a short time ago,but rose to 112.43.