S&P 500 futures down 11 points
Friday trading was a deep disappointment to the US equity bulls. The market started off higher and was up 25 points at the peak of the day. It was a welcomed relief rally to break the persistent selling since the FOMC decision.
It was kicked off by upbeat comments from Yellen late Thursday. Even with the gains it would have been a soft week but later in the day Friday they began to evaporate. The S&P 500 fell by as many as 10 points but bounced to close down 1 point at 1931.
Evidently, all the negative sentiment hadn't run its course. Futures point to more declines ahead, in part because oil prices are down 0.68% in early trading. The rest of it is momentum and built-in worries.
The only other notable news on the weekend was the Catalonia election but I highly doubt that will be a factor today outside of, maybe, the Spanish equity market.
