S&P Futures are showing gains this morning with positive action in autos, banks, drugs and tech. The key economic data point for today will be the ISM Manufacturing index which is due out after the opening bell. U.S. Steel (X) is falling, Indications that Biden will announce that his is blocking their merger with Nippon Steel. Carvana shares are weakening after a negative report from Hindenburg Reseach. Gains are Constellation Energy (CEG) as the firms won more than $1B in government contracts. Defense stocks are higher after yesterday’s selling pressure which was due to Chinese sanctions. European shares are lower this morning and oil prices are falling in the pre-market.
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