Market Wrap – Amber Alert for Markets as QT Kicks in, June 1, 2022

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  • 01 Jun '22 at 7:17 am #37757
    Truman
    Participant

    Market Updates

    S&P Futures vs Fair Value: +5.0
    10 yr Note: 2.866%
    USD/JPY: 129.40 +0.72
    EUR/USD: 1.0722 -0.0013
    Europe: FTSE: -0.1% DAX: +0.3% CAC: +0.2%
    Asia: Hang Seng: -0.6% Shanghai: -0.1% Nikkei: +0.7%
    Gold (1831.30 -17.10) Silver (21.46 -0.23) Crude (116.55 +1.88)

    01 Jun '22 at 7:17 am #37758
    Truman
    Participant

    Global equity markets are mixed but little changed. S&P Futures are up about five points to trade around the 4136 area. An early bid stalled at 4156.75 before the slow drip down to lower levels. The low was established in the European session at 4125.75.
    In Asia, China slipped 0.1% while Japan gained 0.7%. The Shanghai Composite saw a quiet day after rising over 1% on Tuesday. The Chinese

    01 Jun '22 at 7:18 am #37759
    Truman
    Participant

    Key factors driving the futures market:

    Dow component Salesforce, Inc. (CRM) surges 9% after raising FY23 profit outlook
    Shanghai ends its two-month lockdown
    Presumption that new inflows will be seen on first trading day of new month

    01 Jun '22 at 3:16 pm #37747
    TradersCom
    Keymaster

    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]

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