Futures Power Hour

Monday Markets Eclipsed by Macro Calendar Earnings

| Apr 8, 2024
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    Futures Power Hour

    Monday Markets Eclipsed by Macro Calendar Earnings

    Apr 8, 2024

    Chris Vecchio and Anton Kulikov examined the current financial landscape, noting a rally in the Russell index and increased market volatility, predicting an exciting trading week ahead. They emphasized the importance of the upcoming week due to key events such as VIX expiration, a busy earnings calendar, and significant macroeconomic data releases including CPI, FOMC meeting minutes, and ECB meeting. The conversation also touched on the volatility rank for S&P futures, indicating a typical bull market environment with contracting VIX, suggesting continued upward market trends despite recent volatility spikes. Additionally, they discussed changes in market positioning, with speculators now net long in S&P 500 futures, a shift from previous net short positions. This change aligns with trend-following behavior, hinting at possible further long positions. Chris and Anton also covered bond market actions, gold's rallying prices, and the positioning in crude oil, highlighting the market's crowded long side in oil. They concluded with insights on currency movements, particularly focusing on the yen and euro, underscoring the complex interplay of macroeconomic factors influencing the financial markets.

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