A Slow Week With Few Known Events to Move Markets

Good morning contrarians! It is Monday, June 5. If you’re looking for a quick summary of what happened in Friday’s trading, our AI bot Connie (short for Contrarian) has the sub-60 second wrap-up for you.

State of Play

As of 0635 things are pretty quiet:

• Stock index futures are pointing to a lower open, led by the Russell 2000 which tracks small caps, which is down 0.4%. Nasdaq futures are down a little less (-0.3%). The S&P 500 is flat;

• Commodities are continuing to rebound with WTI crude oil up 1.8% to trade around $73/barrel;

• Bonds are continuing to sell off. The 2-year yield is up 6 basis points to 4.56% with the 10-year up 6bps to 3.75% (yields move inversely to prices).