E-mini S&P 500 futures pull back to 7,700 to start week
E-mini S&P 500 futures began the week with a modest pullback to 7,700 as higher Treasury yields and rising crude oil prices offset hawkish Fed sentiment and energy costs.
E-mini S&P 500 futures started the week with a modest pullback to 7,700 as markets digested higher Treasury yields and rising crude oil prices.
Despite headwinds from hawkish Federal Reserve sentiment and elevated energy costs, equity futures gained 2.5% in August and remain within 2% of all-time highs.
Equity volatility moved slightly higher off year-to-date lows while traders prepare for a busy economic calendar featuring PMIs, ISM manufacturing, JOLTS job openings, and Friday's nonfarm payrolls report.
Todd Colvin of Mark IV Brokerage analyzes price action, market resilience, and key drivers.