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June kicks off with QT with the stock market major averages finishing near yesterday’s lows. The S&P 500 lost 0.8% and the Russell 2000 lost 0.5%.
[See the full post at: Market Wrap – Amber Alert for Markets as QT Kicks in, June 1, 2022]Key factors driving the futures market:
WTI crude futures drop 2.7% to $112.13/bbl after FT report suggests Saudi Arabia will step up production in the event of significant drop in Russian output due to EU sanctions
NetApp (NTAP), MongoDB (MDB), and Elastic (ESTC) post better-than-expected earnings and reassuring guidance
Expectation of some rebound action following poor start to the week
ECB member Villeroy pushes need for policy normalization over a tightening of policy
China State Council reportedly backs plan to expedite policy support, according to Bloomberg
Biden Administration reportedly plans to cancel student debt for students of Corinthian Colleges
Sheryl Sandberg stepping down as COO at Meta Platforms (FB)
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