A rocky start to the week for the risk mood
US futures are dragged lower once again, with S&P 500 futures now down 0.4%, Nasdaq futures down 0.6%, and Dow futures down 0.3% on the day.
It’s a bit of a messy and wishy-washy start to the week as the market continues to grapple with key issues weighing on sentiment in general. Some things to consider:
- Evergrande anxiety resurfaces as debt test looms and asset sales reported
- US debt ceiling remains unresolved but lawmakers are sanguine
- Supply bottlenecks continuing to pose a threat (key semiconductor firms to raise prices in Q4, h/t @ AvidCommentator)
- The energy crisis is still playing out ahead of winter
- Rising (and persistent) inflation a major headache for the recovery, central banks
Looking at FX, the dollar is sitting mixed and a touch lower but changes are rather minimal for the most part so we’ll see how things play out once the ranges start to extend.