As long as the labor market remains robust, this market will be fairly anchored, says Phil Streible. He discusses the takeaways from jobless claims data. He notes that the S&P 500 downside remains limited if the jobs market stays strong. He also talks about how he thinks the next two cycles of earnings will be weaker than expected, so if a company is outperforming this time, they might feel the pain next time. He also notes that the 10-year yield has risen to its highest level since 2008, while the Japanese Yen (/6J) hits its lowest levels versus the U.S. dollar (/DX) since August 1990. He then goes over how U.K. Prime Minister Liz Truss has resigned. Tune in to find out more about futures today.
20 Oct 2022