S&P 500: Futures fall at the start of a busy week

• Wall Street futures with modest losses.
• The dollar gains momentum before rising Treasury bond yields.
• A key week begins that includes the Fed, BoE and NFP.

Wall Street futures are in negative, retreating, with moderate falls, at the beginning of a week that includes the Fed meeting. In Europe, markets are mixed. The dollar supported by US bond yields Oil and metals trending negative.

With an eye on the days to come

The FTSE 100 is up 0.12% on Monday, while the DAX is up 0.10% and the CAC 40 is down 0.30%. S&P 500 futures shed 0.55%, retreating from six-week highs, while those of the Nasdaq yield 0.66%.

The actions of Manzana, amazon, and Meta Platforms continue to go downhill and in Monday’s preview they lose about 1%. Throughout this week about a third of the companies in the S&P 500 will present corporate results for the third quarter. On Monday, among others, it will be the turn of GoodyearLegget & Platt, Sonoco and NXP.

The China PMI manufacturing index it stood at 49.2 in October, below the expected 49.8 and lower than the 50.1 in September. Russia launched a wave of missile strikes across Ukraine, targeting civilian infrastructure. In BrazilLula won the elections and will be president again as of January 1.

Inflation in the Eurozone reached record highs in October according to the preliminary estimate when the annual index reached 10.7%, above the previous 9.9% and the 10.2% expected. This continues to put pressure on the European Central Bank to continue with the monetary tightening cycle. Growth figures for the region were also released, showing an expansion of 0.2%, greater than 0.1%. EUR/USD is falling and trading below 0.9930, while EUR/GBP is at daily highs above 0.8600.

The pound is trading in negative territory against the dollar and euro, with GBP/USD testing 1.1500 and EUR/GBP above 0.8600. On Thursday the Bank of England will announce the monetary policy decision (an increase of 75 basis points is expected, in a split vote).

The treasury bond yields they are rising on Monday supporting the dollar and ahead of the Fed’s decision on Wednesday and key US economic data such as the October jobs report on Friday. The Chicago PMI and the Dallas Fed manufacturing index will be released on Monday.

The dollar index rises 0.50%, registering the third daily advance in a row. For its part, the yield on the 10-year Treasury bond remains above 4.05%, while the 2-year yield is close to 4.50%.

The and in is among the weakest in the market with USD/JPY approaching 149.00. The intervention of the Japanese authorities to stop the fall of the yen reached 43,000 million dollars in October, higher than the nearly 20,000 million dollars in September.

The metals they fail to make up ground in the context of a strong dollar and higher yields. The Prayed is at a daily low testing the $1635 zone, while the silver marked lows below $19.00. Oil is down almost 2%, with a barrel of WTI targeting $86.00. The Bitcoin rises 0.20% and reached $20,820.

Technical levels