Index futures, the overnight tape, and the calendar that matters today.
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This is the CAMS Morning Market Brief for Monday, August tenth.
Overnight percentage moves on the index futures aren't coming through this morning, so start with Friday's close. Friday was broad. The S and P 500 finished up about six tenths of a percent. The Nasdaq 100 added just over one percent, small caps in the Russell 2000 gained about one and a tenth, and the Dow trailed the group at a quarter percent. Everything moved together.
Sector breadth said the same thing. Nine of eleven sectors closed higher. Consumer discretionary led at roughly one and a half percent, with technology right behind it near one point four. Materials came third. The red ones were energy, off a little over one percent, and financials, down about a third. Staples were essentially flat.
Volatility didn't quite go along with the rally. The VIX ended near fifteen and a half, up close to four percent on a green day. Low by absolute standards, but rising while stocks rose is worth noticing.
The week ahead explains why. The consumer price index arrives Wednesday at eight thirty Eastern, headline and core together. Producer prices and jobless claims follow Thursday. Retail sales and the preliminary University of Michigan sentiment and inflation expectation surveys close out Friday. Overnight, Australia's central bank decides on rates.
So the market wakes up to a wide Friday advance and an inflation print two days out.
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