What is fair value and what is it based on? 09:25 am S&P futures vs fair value:+1.0.?

Answer 1

In this case, fair value is calculated based on the values of the stocks in the S&P 500 at close of the previous market session.

Futures markets open before the stock market, so futures will trade above or below fair market depending on whether futures traders expect the stock market to jump up or down when it finally opens at 9:30.

By the way: 1.0 is actually a percent.