S&P 500 futures are flat as we look towards the start of European morning trade later. It’s a quiet one for now, following the slight advance from yesterday.
Higher yields continue to be a key consideration for stocks at the moment. But for trading this week, it’s going to be a rather tricky one.
We have a slew of US data during the week, which will be capped off by the non-farm payrolls report on Friday. The PCE price index on Thursday is also a standout in that regard. Then, there’s key earnings releases from big tech as seen here. And then, there’s also month-end flows to add into the equation as well.
It’s pretty much squeaky bum time for markets this week as such. And when things get this muddy and complicated, sometimes the best trade you can do is to stay on the sidelines to let it all settle.
Coming back to the equities mood currently, we might be in for a slower one in Europe until we get to Wall Street. Upon which, there will be some anticipation ahead of the Alphabet earnings later in the day; not to mention the other factors above.