What’s in Today’s Report:
- Fundamentals: Not As Bad As Feared, But How Much Better Are They?
- Weekly Market Preview: Can the S&P 500 Hold This Recent Bounce?
- Weekly Economic Cheat Sheet: Friday’s CPI is the Key Report This Week
Futures are solidly higher thanks to positive news from China.
The economic reopening in China progressed over the weekend as COVID cases continued to decline, authorities relaxed more restrictions in Beijing, and none of the fifty largest cities in China have intense restrictions in place.
Also in China, the WSJ reported authorities may soon end their probe into Didi, and that might also signal an end to the government crackdown on Chinese tech stocks (if so that’d be a major positive for Chinese tech names and a peripheral positive for tech stocks more broadly).
Today there are no notable economic reports or Fed speakers, so it should be a generally quiet day of news. Across the pond, UK Prime Minister Johnson faces a “no confidence” vote in Parliament, but he’s expected to survive it (if he doesn’t, that could be a surprise negative for stocks today but again that is unlikely).