What’s in Today’s Report:
- Now What? Updated Market Outlook
- Weekly Market Preview: Will Yields Keep Rising?
- Weekly Economic Cheat Sheet: Key Growth Updates This Week
Futures are modestly higher on a bounce back from last week’s losses following a generally quiet weekend of news.
Economic data was sparse and the only notable report was EU M3 money supply, which rose less than expected (3.5% vs. (E) 3.9%).
Geopolitically, fears are easing that China will send arms to Russia (concerns about this weighed on stocks late last week and an easing of them is helping futures rally).
Today focus will remain on economic data and the two notable reports are Durable Goods (E: -4.0%) and Pending Home Sales (E: 1.0%). While neither should be a major market mover, markets will want to see stable data (so reports that don’t imply growth is too strong, or too weak). We also get one Fed speaker, Jefferson (10:30 a.m. ET).