Fear over inflation and the eventual Fed tightening brought out the technology bears on Monday which say the Nasdaq lose over 2.5%. Futures continue the downward move overnight. The Fed continues to try to reassure the markets that inflationary pressures will be transitionary and rate changes and asset purchasing tapering would come slowly.
The nagging inflationary fears will raise the importance of Wednesday’s CPI data. In the meantime, JOLTS is @ 10:00am ET, and the Fed has a slew of speakers today: Williams @ 10:30am ET, Brainard @ 12:00pm ET, Daly @ 1:00pm ET, and Bostic @ 1:15pm ET.
Earnings include EA, PLTR, U, KGC, FUBO, and SNDL.
Volatility is on the rise and should remain elevated today.
Size bias is short into the US session open on the largest Globex volume we’ve seen in a while.