A.M. Update

S&P futures are down -0.1%. Pre-open losses in some mega cap names have contributed to the early downside bias, along with negative responses to earnings from FedEx (FDX) and Lennar (LEN). Volume is expected to be above-average on this “quadruple witching” expiration day. The 10-yr yield is down one basis point to 3.73% and the…