S&P futures vs fair value: -16.80. Nasdaq futures vs fair value: -45.00.
Equity futures are slipping after yesterday’s higher finish. A big loss in Oracle (ORCL) following its disappointing guidance is weighing down the broader market.
There’s also some hesitation in play as market participants look ahead to the August Consumer Price Index tomorrow.
Rising oil prices are an overhang for the broader market. WTI crude oil futures are up 0.9% to $88.09/bbl.
2-yr note yield is unchanged at 4.99%
10-yr note yield is unchanged at 4.28%.
Today’s economic data was limited to the August NFIB Small Business Optimism survey, which declined to 91.3 from 91.9.