From the Wall Street Journal’s “Stock Futures Edge Up Ahead of Tech Earnings” posted early Thursday:
U.S. stock futures ticked higher ahead of earnings from large technology companies and economic data including jobless claims and an updated reading of first-quarter gross domestic product…
Stocks have swung this week, fluctuating between daily gains and losses as investors considered the Federal Reserve’s next monetary tightening moves to combat inflation and how much they could weigh on growth and markets. Minutes released on Wednesday by the Fed showed that policy makers were in agreement for half-percentage point increases in June and July, in line with previous communication.
“To some extent, markets have been reassured that the Fed isn’t going to tighten more aggressively than what is expected. But sentiment in the market remains rather stressed,” said Luc Filip, head of investments at SYZ Private Banking. “There is still a lot of uncertainty about what will happen if inflation stays high.”
Max pain stays at $141 with a call mountain at $150 and put peak at $135.