Reply To: Traders Market Weekly: Expect the Unexpected

#45397
Truman
Participant

The S&P 500 futures are down 4 points and are trading 0.1% below fair value.
The Nasdaq 100 futures are down 23 points and are trading 0.2% below fair value.
The Dow Jones Industrial Average futures are down 14 points and are trading roughly in-line with fair value.

Equity futures indicate a lower thanks to negative carryover momentum from Friday’s retreat; however, they are off their overnight lows.
There is some hesitation ahead of the FOMC minutes from the September meeting on Wednesday, new inflation data with PPI out on Wednesday and CPI out on Thursday, and earnings reports from major financial institutions on Friday.

The Bank of England announced additional measures to support market functioning ahead of, and following, the expiration of its Gilt purchases on October 14.

Reports indicate that COVID cases are rebounding in China, pressuring stocks with high exposure to that market, and that Russia is stepping up its missile attacks on Ukraine following the Crimea bridge blast over the weekend.

Energy complex futures are mixed.

WTI crude oil futures are down 0.8% to $91.91/bbl
Natural gas futures are up 0.5% to $6.78/mmbtu.

The U.S Treasury market is closed today for a holiday.

There is no U.S. economic data of note today.