Reply To: Traders Market Weekly: Record Highs with Netflix, PCE & Tesla Risk


S&P 500 futures are up 18 points and are trading 0.4% above fair value,
Nasdaq 100 futures are up 135 points and are trading 0.9% above fair value,
Dow Jones Industrial Average futures are down 71 points and are trading 0.2% below fair value.

Pre-open gains in mega cap stocks have boosted futures tied to the S&P 500 and Nasdaq 100 after the market started the week with losses, predicated on the notion that the Fed may not cut rates as soon, or as much, as the market hoped. This rethink was partially related to strong economic data this week, so market participants will be keenly focused on this morning’s release of the weekly jobless claims report and December Housing Starts and Building Permits at 8:30 ET.

Treasury yields are slightly lower than yesterday in front of the data.
The 2-yr note yield is down three basis points to 4.33% and the 10-yr note yield is down two basis points to 4.09%.

The latest batch of earnings news has received mixed reactions. Taiwan Semiconductor Manufacturing Co. (TSM) is a winning standout this morning after beating earnings estimates while Discover Financial Services (DFS) shows a big pre-open loss after its earnings report.