3-Month Eurodollar Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +2.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.62%.
U.S. stock indexes on Tuesday rallied to 1-week highs and closed moderately higher. Risk sentiment improved Tuesday and fueled a rally in stocks. U.S. stocks opened higher Tuesday on carry-over support from a rally in Chinese technology stocks on optimism that China may ease a year-long crackdown on the sector. In addition, hopes that lockdowns in Shanghai may soon be ended fueled gains in the overall market after Shanghai reported no community Covid infections for a third day.
A +1.52% rally in the Euro Stoxx 50 Tuesday gave U.S. stocks a boost after the Eurozone economy grew more than expected in Q1. Also, positive comments Tuesday from Fed Chair Powell and St. Louis Fed President Bullard were bullish for stocks, along with stronger-than-expected U.S. economi... Read more