SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures trading sideways in the upper end of Fridays range 416.56 the corresponding futures high
415.26 the corresponding futures low
SPY 3 months, daily candles Friday saw follow thru of Thursdays big reversal day, right back to testing 3month highs again. (resistance)
415.94 the high from Friday
418.31
419.96 goes back to Aug '22
421.22 open gap from 8/19/22 (support)
411.43 the low from Friday
410.80 the daily 12ema(white)
406.74
403.78
402.40 the 50 day MA(blue)
QQQ 5 days, hourly candles Nasdaq futures also trading in the upper portion of Fridays range 323.44 the corresponding futures high
322.05 the pre mkt low so far
QQQ 3 months and 1yr, daily candles Pushing over 3 month highs, resistance going back to Aug. '22 now in play. (resistance)
322.65 Fridays high (8/19 gap filled)
326.84
330.49 (support)
318.96 the low from Friday
316.90 the daily 12ema(white)
315.05
311.34
309.89
May Vix futures 3 months, daily candles
Big flush Friday below all recent lows, trading at those Fri. lows currently
Spot Vix 3months, daily candles and 3yr, weekly candles
Big vol crush Friday to new 52 week lows; Trading at levels last seen Nov '21 when the Nasdaq peaked
https://www.briefing.com/stock-market-update
[BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -15.00.The S&P 500 futures are down 4 points and are trading slightly below fair value. The Nasdaq 100 futures are down 15 points and are trading 0.1% below fair value. The Dow Jones Industrial Average futures are down 14 points and are trading slightly below fair value.
Stock futures are flattish as investors await key events later this week, including the FOMC decision on Wednesday, the ECB meeting and Apple's (AAPL) earnings report on Thursday, and the April Employment Report on Friday.
At 10:00 a.m. ET, market participants will receive the April ISM Manufacturing Index (Briefing.com consensus 46.8%; prior 46.3%). This comes after China reported weaker than expected PMI data for April (actual 49.2; expected 51.4).
Other U.S. economic data today includes the final IHS Markit Manufacturing PMI (prior 50.4) for April at 9:45 a.m. ET and the Construction Spending report (Briefing.com consensus +0.1%; prior -0.1%) for March at 10:00 a.m. ET
Treasuries are little changed from Friday's settlement levels. The 2-yr note yield is unchanged at 4.06% and the 10-yr note yield is up one basis point to 3.46%. The U.S. Dollar Index is up 0.2% to 101.83.
Energy complex futures are moving lower. WTI crude oil futures are down 2.1% to $75.14/bbl and natural gas futures are down 0.9% to $2.56/mmbtu.
Note: markets in Europe, China, and Brazil are closed today for holidays.
In corporate news:
First Republic Bank (FRC 1.9000, -1.61, -45.9%): JPMorgan Chase (JPM) acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
Carvana (CVNA 7.26, +0.32, +4.6%): creditors are offering to swap debt for equity, according to Bloomberg
General Motors (GM 33.91, +0.87, +2.6%): upgraded to Overweight from Equal Weight at Morgan Stanley
Exxon (XOM 116.31, -2.03, -1.7%): downgraded to Buy from Neutral at Goldman Sachs
SoFi Technologies (SOFI 6.61, +0.38, +6.4%): beats by $0.04, beats on revs; guides Q2 revs above consensus; guides FY23 revs above consensus
Ascendis Pharma (ASND 82.10, +12.14, +17.4%): FDA issues complete response letter for TransCon PTH in hypoparathyroidism; no new preclinical studies, or Phase 3 clinical trials to evaluate safety or efficacy, were requested in the letter
Comcast (CMCSA 41.88, +0.51, +1.2%): upgraded to Buy from Neutral at BofA Securities
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