tl;dr
Stock index futures were cautious Monday as traders braced for plenty of activity and tensions in the Mideast rose. S&P futures (SPX) were flat, with Nasdaq 100 future (NDX:IND) 0.2% up slightly and Dow futures (INDU) -0.1% off a little. In "an action-packed slate of activity" for the week, the "FO...
Stock index futures were cautious Monday as traders braced for plenty of activity and tensions in the Mideast rose. S&P futures (SPX) were flat, with Nasdaq 100 future (NDX:IND) 0.2% up slightly and Dow futures (INDU) -0.1% off a little. In "an action-packed slate of activity" for the week, the "FOMC ending Wednesday and Payrolls on Friday are the most obvious landmarks, but we also have 24% of the S&P 500 (Microsoft, Apple, Alphabet, Amazon and Meta), and with $10.5tn of market cap, reporting in a 48-hour window from Tuesday night," Deutsche Bank's Jim Reid said. "If that's not enough the US Treasury Quarterly Refunding Announcement is out on Wednesday."
"The last two editions have coincided with first a huge sell-off in bonds and then a huge rally. The precursor is today’s Treasury’s borrowing estimate which is out at 3pm EST. Our rates strategists (don't see any major surprises this week but it's clearly going to be heavily scrutinized)."
"Other US highlights include the JOLTS data and consumer confidence tomorrow, the ADP report on Wednesday and the ISM manufacturing index on Thursday." Rates were lower. The 10-year Treasury yield (US10Y) fell 6 basis points to 4.10%. The 2-year yield (US2Y) fell 4 basis points to 4.33%.
This week, the "FOMC, Riksbank and the Bank of England are all likely to leave rates on hold," SocGen's Kit Juckes wrote. "But the focus will be on what the Fed says and how they adjust the message from December, when the opening paragraph of the Statement talked of slower growth and falling but still elevated inflation. Since then, economic data have surprised to the upside more often than not and inflation data, if anything, have surprised to the downside."
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.