U.S. Stock Futures Are Higher Following Friday's Strong Close

United Asset Strategies |

U.S. stock futures are higher:  Equity futures have been fluctuating between positive and negative territory this morning following Friday’s strong close for all three primary indexes.   Treasury bond yields are holding steady with the 10y staying below 3% and retail sales & Industrial Production results are set for Tuesday.  Fears of a potential global slowdown have been compounded with the lockdowns in China.  The Chinese retail sales declined 11% in April from a year ago, versus estimates of -6.1% & industrial production dropped 2.9% compared to an expected small increase of 0.4%.  Global markets are mixed in Monday trading. High yield and investment grade spreads are wider in response to a prospective economic slowdown but remain below long term historical trends.