Reply To: Traders Market Weekly: Short Squeezes and Bond Markets


S&P futures vs fair value: -40.30. Nasdaq futures vs fair value: -134.00.

Equity futures have continued to deteriorate as the morning progressed.
The S&P 500 futures are down 40 points and are trading 1.0% below fair value.
The Nasdaq 100 futures are down 134 points and are trading 1.2% below fair value.
The Dow Jones Industrial Average futures are down 312 points and are trading 0.9% below fair value.

JPMorgan Chase (JPM 136.02, -3.47, -2.5%) and Bank of America (BAC 33.80, -0.67, -1.9%) are among the top laggards this morning despite reporting above-consensus Q4 earnings.

Tesla (TSLA 116.14, -7.42, -6.0%) is another big laggard this morning after The Wall Street Journal reported that Tesla cut prices in the U.S. for some of its cars by close to 20%.

Treasury yields and the U.S. Dollar Index are inching higher this morning.

The U.S. Dollar Index is up 0.3% to 102.53. The 2-yr note yield is up two basis points to 4.15% and the 10-yr note yield is up two basis points to 3.47%.