I long wondered why this variance but today’s little spike reminded me that I still don’t know why this is.
S&P 500 and Dow futures are priced the same as their index. In other words, futures for both this morning were around 5900 and 43580 respectively, and opened around 53874 and 43436.
By contrast, the NASDAQ futures were priced at 20,665, more than 10% higher than the actual index (the index is currently at 18753). This is how it looks every morning before opening, roughly a 2000 point difference. I have no idea why but it has always struck me as odd.
Anyone know why? Google Foo has failed my on this query.