Reply To: Traders Market Weekly: Cracks Widen in China and Emerging Markets


S&P 500 futures are down eight points and are trading 0.2% below fair value,
Nasdaq 100 futures are down 50 points and are trading 0.3% below fair value,
Dow Jones Industrial Average futures are down 34 points and are trading 0.1% below fair value.

There is a negative bias in early trading in front of the Personal Income and Spending report for April, which includes the Fed’s preferred gauge on inflation (the PCE Price Indexes), at 8:30 ET.

Market participants are digesting a slate of mixed of earnings news in front of that report. Costco (COST) shares are slightly lower in front of the open after reporting better-than-expected earnings, shares of Dell (DELL) are sharply lower in premarket action on disappointing guidance, and Gap (GPS) is up big in pre-open action following pleasing quarterly results.

Treasury yields are little changed. The 10-yr note yield is unchanged at 4.55% and the 2-yr note yield is up one basis point to 4.94%.