U.S. Stock Futures Are Higher With Earnings Season In Full Gear
U.S. stock futures are higher. With earnings season in full gear, investors are taking clues from corporate results to gauge valuations during inflationary periods and measure its total impact on margins/earnings. Additionally, another focus will be earnings expectations for the remainder of the 2022 and as of yesterday, approximately 8% of the S&P 500 companies have reported earnings. The treasury curve remains inverted with the probability of recession rising - the 10y remains below 3% at 2.98% compared to the 2y at 3.17%. Existing home sales for the June will be released at 10 am and the 20y bond auction is set for this afternoon. Asian markets closed lower. The Reserve Bank of Australia minutes from the previous meeting suggested that higher interest rates will be required to tame inflation. European markets are mainly mixed in midday trading.