Market Wrap – More Selling in Stocks, Bonds and Natural Gas June 14, 2022

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  • #38637
    Truman
    Participant

    Premarket S&P Futures vs Fair Value: +27.0

    10 yr Note: 3.322%
    USD/JPY: 134.24 -0.18
    EUR/USD: 1.0456 +0.0049
    Europe: FTSE: -0.1% DAX: -0.2% CAC: -0.5%
    Asia: Hang Seng: 0.0% Shanghai: +1.0% Nikkei: -1.3%
    Gold (1824.00 -7.80) Silver (21.09 -0.16) Crude (121.30 +0.38)

    #38638
    Truman
    Participant

    S&P Futures are up about 22 points to trade around the 3775 area. Although the market is higher, it has slid from the best level of the night. The peak at 3807.50 occurred at the tail end of the Asian trade. The low was established early at 3754.50.

    Hotter than expected inflation data out of Germany threw cold water on the markets. The German CPI for May rose 0.9% and far exceeded the forecast of 0.0%. Semiconductors are off to a weak start with STMicroelectronics and Infineon down 1-2%.

    #38651
    Truman
    Participant

    Key Influences Premarket

    Buyers due for a bounce?
    Oracle earnings & outlook Beat +12% $ORCL
    Fed funds futures pricing in 95.3% 75bp hike
    #Cryptocurrency volatility
    #Bitcoin -6.8% #Ethereum -3.2%
    #BOJ ramps up bond purchases
    #Beijing Covid 3-week high
    President Biden reportedly asking USTR to look at some goods for possible exclusion from China tariffs
    WTI crude futures +0.5% to $121.50/bbl; wheat futures -1.3% to $10.57/bu; nat gas futures +1.4% to $8.73/mmbtu

    #38621
    TradersCom
    Keymaster

    The markets chopped away today with eyes towards tomorrow’s FOMC meeting. The 2-yr note yield settled the session up 16 basis points at 3.43% and the
    [See the full post at: Market Wrap – More Selling in Stocks, Bonds and Natural Gas June 14, 2022]

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