Reply To: Traders Market Weekly: Big Tech Earnings and Global PMI


The S&P 500 futures are up 12 points and are trading 0.3% above fair value.
The Nasdaq 100 futures are up 84 points and are trading 0.7% above fair value.
The Dow Jones Industrial Average futures are up 1 point and are trading slightly below fair value.

Netflix (NFLX 338.40, +22.62, +7.2%) is moving noticeably higher this morning after reporting earnings and announcing new co-CEOs while Nordstrom (JWN 16.35, -1.10, -6.3%) is a top laggard after significantly lowering FY22 EPS guidance.

Alphabet (GOOG 97.05, +3.14, +3.3%) is among the more influential winners following news that GOOG plans to reduce its workforce by approximately 12,000 roles. Also, India’s Supreme Court will not block Google antitrust ruling, according to Reuters.

The 2-yr note yield is up five basis points to 4.17% and the 10-yr note yield is up three basis points to 3.43%.