October 10, 2022
Good morning,
It’s a half-holiday day today for the markets as bond trading and banks are closed. Futures are off fractionally. It will likely be a low volume, low volatility day, as hard as that might be to imagine. Watching the S&P 500 drop -2.8% on Friday and still close the week up +1.5% is a testament to just how volatile markets are these days.
Although today may be quiet, things will heat up mid-week with PPI and Fed minutes Wednesday, CPI (a biggie) on Thursday, and earnings season kicking off officially on Friday with big bank earnings. A Friday start to earnings season is unusual but maybe par for this year.
Be well,
Mike