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uranium-pinto-beans

12/06/22 8:18 AM

#355754 RE: uranium-pinto-beans #355753

S&P 500 futures are 0.2% below fair value; the Nasdaq 100 futures are in-line with fair value; and the DJIA futures are 0.2% below fair value
Key factors driving the futures market:
Sense of reserve after yesterday's weak showing
Technical support efforts with the S&P 500 trading just below 4,000
Reserve Bank of Australia raises policy rate by 25 basis points to 3.10%, as expected, and points to likely need for more tightening
Cash-out requests increasing at real-estate funds, according to The Wall Street Journal
Senate runoff election in Georgia being held today
JPMorgan Chase (JPM) CEO Jamie Dimon in CNBC interview says he thinks mild to more pronounced recession likely ahead; says crypto tokens like "pet rocks"
PepsiCo (PEP) planning to layoff hundreds of workers at its North American snacks and beverage division headquarters, according to The Wall Street Journal
Brokerage research calls of note:
Upgrades: BCS, EL, GE, JPM, PKI, ATVI, PFSI
Downgrades: BK, SAM, EW, EQH, FLO, KMB, KYMR, LYG, NGD, CAG, GIS, RCL
WTI crude futures -1.2% to $75.99/bbl; nat gas futures -1.5% to $5.50/mmbtu; copper futures +0.4% to $3.81/lb.
2-yr note yield unchanged at 4.38% and 10-yr note yield -3 bps to 3.57%
The U.S. Dollar Index -0.3% to 105.02
Today's economic data: October Trade Balance at 8:30 a.m. ET