Business

S&P Futures are trading slightly lower this morning in light volume. This morning after the market opens the Consumer Confidence report is scheduled for release. On Saturday morning, President Biden signed a continuing resolution bill on the debt ceiling which prevented a shutdown. Honda and Nissan said that they have a merger agreement in place. Xerox to buy Lenox. Equity markets will have a 1/2 day on Tuesday and will be closed on Wednesday. In Europe stocks trading lower in a light trading session. Oil prices are ticking lower in the pre-market.

S&P Futures are displaying significant weakness this morning. This morning there are a couple of negative catalysts causing markets to fall. The Trump backed budget bill failed to pass and the government faces a shutdown this weekend. Markets are also cautious ahead of this morning’s inflation report which is expected to edge higher. Additional President -Elect Trump has issued tariff threats to the EU if they don’t purchase more oil and gas from the U.S. Holiday periods can often result in larger than normal market swings. Shares of FDX are higher after earnings and a possible spinoff. NKE is lower after an EPS beat on weak forward guidance. The FDA removed LLY weight loss drug from its drug shortage list. In Europe stocks trading lower with autos, banks and mining stocks falling. Oil prices are falling in the pre-market with forward demand in question.