Reply To: Traders Market Weekly: Another Year, Another Reset


Equity futures remain weak heading into the open.

The S&P 500 futures are down 25 points and are trading 0.7% below fair value.
The Nasdaq 100 futures are down 111 points and are trading 1.1% below fair value.
The Dow Jones Industrial Average futures are down 146 points and are trading 0.5% below fair value.

A few mega cap stocks have extended their losses recently, including Tesla (TSLA 119.27, -2.55, -2.1%) and Apple (AAPL 128.17, -1.44, -1.1%).

Treasury yields remain elevated.

The 2-yr note yield is up three basis points to 4.40% and the 10-yr note yield is up three basis points to 3.87%.

Energy complex futures are trending lower.

WTI crude oil futures are down 0.6% to $77.95/bbl and natural gas futures are down 1.7% to $4.05/mmbtu.

Shortly after the opening bell, market participants will receive the December Chicago PMI (consensus 40.0; Prior 37.2).