Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed higher: Shanghai Comp -0.49%, Hang Seng +0.18%, Nikkei +0.05%
- In Europe 10 out of 13 markets closed lower: CAC -0.37%, DAX -0.27%, FTSE +0.11%
- Fair Value: S&P +1.25, NASDAQ +9.48, Dow -6.72
- Total Volume: 1.27 million ESM & 227 SPM traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes James Bullard Speaks 1:00 AM ET, MBA Mortgage Applications 7:00 AM ET, John Williams (NYSE:WMB) Speaks 10:00 AM ET, Raphael Bostic Speaks 10:10 AM ET, Robert Kaplan Speaks 10:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Minutes 2:00 PM ET, and Raphael Bostic Speaks 4:00 PM ET.
S&P 500 Futures: Quiet Day Of Upside
During Monday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2863.50, a low of 2846.25, and opened Tuesday’s regular trading hours at 2859.25.
Going into the RTH open, the ES had been trading sideways in a 7 handle range for several hours, and the same price action continued after the 8:30 CT bell. At 9:30 the futures finally broke out and made a move to the upside, printing a new high for the day at 2870.75.
Once the high had been established, the ES once again began to drift sideways, this time extending the range to 10 handles.
There was no change going into the close. When the MiM revealed $930 million to buy MOC, the ES was hovering around its highs, but wasn’t able to trade above 2869.75. It would then go on to print 2866.25 on the 3:00 cash close, and 2866.00 on the 3:15 futures close, up +22 handle for the day.
It was a quiet day all around. Volume was low, with only 1.2 million ES contracts traded, and the RTH range was tight.
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