Market Multiple Table: September Update
What’s in Today’s Report:
- Market Multiple Table: September Update
Equity futures initially declined at the electronic open last night after AstraZeneca reportedly halted their COVID-19 vaccine trial due to an adverse reaction by a subject in the U.K. but S&P futures have stabilized, and are now up 1%.
Economically, Chinese CPI and PPI headlines for August both met estimates at 2.4% and 2.0%, respectively.
Outside of the AstraZeneca trial headlines, news flow was mostly quiet overnight with investors remaining focused on the recent rout in tech shares.
Looking ahead to today’s session, there is just one economic report: JOLTS (E: 5.950M) but the data is from July so the release should not materially impact markets while no Fed officials are scheduled to speak.
The “thin” catalyst calendar will leave focus on the broader tech space today as profit taking in the sector has single-handedly driven the recent volatility and until tech (Nasdaq) stabilizes, equities will remain under pressure broadly.
