S&P futures drift with extra housing information forward

Inventory index futures pointed to little change on the opening bell Wednesday.

S&P futures (SPX) +0.1% and Dow futures (INDU) +0.2% have been barely greater, whereas Nasdaq 100 futures (NDX:IND) -0.1% have been down a bit.

“Bear markets don’t finish just because the calendar turns, or as a result of enthusiastic traders hear what they need to hear and start lining as much as deploy money,” Wells Fargo’s Darrell L. Cronk wrote. “We advocated for defensive posturing in portfolios beginning within the first quarter of 2022, and we arrive within the first quarter of 2023 with the identical steerage that served traders nicely in 2022. What’s completely different about 2023 is that we do consider markets will present alternatives to as soon as once more flip extra bullish.”

Charges have been decrease. The ten-year Treasury yield (US10Y) fell 3 foundation factors to three.83%. The two-year yield (US2Y) fell 7 foundation factors to 4.35%.

Shortly after the beginning of buying and selling, November pending dwelling gross sales figures arrive. Economists anticipate a drop of 0.8% for the month.

Amongst energetic shares, Tesla continued to lose floor after hitting multi-year lows within the earlier session.