05 May '23 at 7:38 am #57981
Ahead of Jobs:
The S&P 500 futures are up 29 points and are trading 0.7% above fair value.
The Nasdaq 100 futures are up 88 points and are trading 0.7% above fair value.
The Dow Jones Industrial Average futures are up 180 points and are trading 0.5% above fair value.
Stock futures boosted by a decent earnings-related gain in Apple along with rebound price action in regional bank stocks after sharp declines recently.
Treasury yields are moving higher as the flight to safety trade unwinds somewhat. The 2-yr note yield is up nine basis points to 3.83% and the 10-yr note yield is up six basis points to 3.41%. The U.S. Dollar Index is flat at 101.39.
Oil prices are reclaiming lost ground, trading back above $70.00/bbl, up 2.7% to $70.42/bbl.