There may not be a lot of life in the equity futures market at the moment, but that doesn’t mean the equity market is dead. No, it’s more like it is resting following a string of 15 gains in the last 17 weeks for the S&P 500 and Nasdaq.<\/p>\n\n\n\n
Currently, the S&P 500 futures are up four points and are trading 0.1% above fair value, the Nasdaq 100 futures are up 24 points and are trading 0.1% above fair value, and the Dow Jones Industrial Average futures are up 13 points and are trading fractionally above fair value.<\/p>\n\n\n\n
That’s a setup for a relatively flat open, and it is also a reflection of a wait-and-see attitude that has been seen often in the futures trade as everyone seems to be waiting for the equity market to get reined in. Of course, what has also been seen just as often is an equity market that keeps running.<\/p>\n\n\n\n
That remarkable feat of endurance, then, has gotten plenty of participants chasing after it, fearful of missing out on further gains, particularly in the mega-cap stocks.<\/p>\n\n\n\n
So, today looks no different. Participants are waiting to see how the price action unfolds in the cash market to determine if this will be a full day of rest or another day that makes sidelined investors restless at the sight of continued gains.<\/p>\n\n\n\n
Berkshire Hathaway (BRK.B)<\/strong> and Domino’s Pizza (DPZ)<\/strong> are among the individual gainers of note in the early going following their earnings results. BRK.B is up 2.0%, which will give a boost to the financial sector, and DPZ is up 7.0%, which will give a boost to the consumer discretionary sector.<\/p>\n\n\n\n