The Market Brief
U.S. futures edged higher during early trading on Friday as growing confidence in the resilience of the US economy and upbeat earnings lent fresh support to risk sentiment.
Impact Snapshot
🟥 Consumer Sentiment - 10:00am
🟥 Inflation Expectations - 10:00am
Macro Viewpoint
Relief rally y-day following goldilocks macro data (retail sales much stronger, jobless claims lower, import prices lower, & Philly fed outlook 15.9 one of the strongest readings in 3 years).
These cross-asset moves capped off a week filled with anxiety, fueled by rumors that President Donald Trump might consider dismissing Fed Chair Jerome Powell.
Equities climbed on the back of the solid economic numbers and growing confidence that U.S. companies will deliver strong second-quarter earnings, which helped counterbalance the uncertainty sparked by Trump's tariff war.
OPEX
With recent quad-witching opex events still fresh in mind, today’s $2.8 trillion option expiration — made up of $1.5 trillion in SPX options and around $660 billion in single stock options — is shaping up to be fairly uneventful.
While opex volumes have surged in recent months, the notional open interest this time around is actually in line with what we saw last July.
📰 In today’s Prime Intelligence, we’re sharing updates on:
Hedge funds’ positioning and flows
CTA systematic macro
Retail positioning
Can this OPEX expiry affect the trend?
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