S&P 500 futures are 0.6% above fair value; the Nasdaq 100 futures are 0.6% above fair value; and the DJIA futures are 0.6% above fair value
Key factors driving the futures market:
Hopeful anticipation that November CPI report will show further disinflation
Strength in Boeing (BA) after United Airlines (UAL) makes largest aircraft order ever
Mega-cap stocks trading higher
Oracle (ORCL) up 3.0% after topping fiscal Q2 revenue and earnings expectations
Sam Bankman-Fried arrested in Bahamas and won't be testifying at today's House hearing on the FTX collapse
Moderna (MRNA) and Merck (MRK) announce investigational cancer vaccine for melanoma met Phase 2 primary efficacy endpoint
Germany's November CPI in-line with expectations, with 10.0% yr/yr rate down from 10.4% in October
China said to be working on $143 billion support plan for its semiconductor industry, according to Reuters
JPMorgan strategist Kolanovic cuts rating on stock to moderate underweight from overweight, according to Bloomberg
Brokerage research calls of note:
Upgrades: EQIX, PHR, COHR, HUM, HUYA, INSP, USB, PINS
Downgrades: AFRM, HOOD, AMNB, AMTB, BHB, BHP, CBNK, CARR, CMA, DFS, FNB, HTLF, HOMB, INDB, MOFG, SHBI, USER
WTI crude futures +0.7% to $73.71/bbl; nat gas futures +4.0% to $6.86/mmbtu; copper futures +1.3% to $3.85/lb.
2-yr note yield -3 bps to 4.36% and 10-yr note yield -3 bps to 3.58%
The U.S. Dollar Index is down 0.3% to 104.87
Today's economic data: November Consumer Price Index at 8:30 a.m. ET
AI
