Russell 2000 E-Mini Futures Market News and Commentary
September S&P 500 futures (ESU22) this morning are down -0.98%. Stock index futures are falling this morning on concern the Fed will maintain its aggressive rate-hake path. Comments Thursday from St. Louis Fed President Bullard and Kansas City Fed President George, two voting FOMC members, emphasized the Fed will continue to raise interest rates until inflation eases back to the Fed’s 2% target. The 10-year T-note yield jumped to a 4-week high today at 2.972%.
A more than -5% drop in Deere & Co in pre-market trading today is also weighing on the overall market after the company trimmed its annual profit forecast. Also, Ross Stores is down more than -1% in pre-market trading after reporting weaker-than-expected Q2 sales, and Meta Platforms is down more than -2% after Morgan Stanley cut their price target on the stock.
The Euro Stoxx 50 today fell to a 1-week low and is down -0.62%. Real estate and travel and leisure stocks led losses in the over... Read more