 :55AM: S&P futures vs fair value: -1.1. Nasdaq futures vs fair value: -10.5. The futures market maintains its lackluster trade and continues to point to a lower open for the cash market. Technology sectors look to underperform the broader market, as tech stocks are exhibiting a "sell-on-the-news" reaction despite better than expected earnings from the likes of PMCS, LU, MOT, and AMD.
8:45AM: S&P futures vs fair value: -0.8. Nasdaq futures vs fair value: -9.5. Futures indications are slipping and are pointing to a slightly lower open for the cash market. The higher than expected Housing Starts (at 2.088 mln vs. consensus of 1.950 mln) and Building Permits (at 1.924 mln vs. consensus of 1.875 mln) reports have done little to boost the market, as participants are hesitant to place bids on the heels of yesterday's session, which left the major averages at or within a short reach of their respective closing 52-week highs.
8:20AM: S&P futures vs fair value: +0.3. Nasdaq futures vs fair value: -7.0. Housing Starts and Building Permits reports will be reported at 8:30 ET. The consensus estimate for the Housing Starts report is 1.950 mln versus the prior reading of 2.070 mln and Briefing.com consensus of 1.980 mln. The Building Permits report is expected to check in at 1.875 mln versus the prior consensus of 1.863 mln and the Briefing.com consensus of 1.930 mln. The reports |
:55AM: S&P futures vs fair value: -1.1. Nasdaq futures vs fair value: -10.5. The futures market maintains its lackluster trade and continues to point to a lower open for the cash market. Technology sectors look to underperform the broader market, as tech stocks are exhibiting a "sell-on-the-news" reaction despite better than expected earnings from the likes of PMCS, LU, MOT, and AMD.