Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed higher: Shanghai Comp +1.22%, Hang Seng +0.12%, Nikkei +0.09%
- In Europe 10 out of 13 markets are trading lower: CAC -0.23%, DAX -0.85%, FTSE -0.11%
- Fair Value: S&P +0.61, NASDAQ +7.84, Dow -10.13
- Total Volume: 1.71mil ESZ & 1,183 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes US Holiday: Veterans Day (Observed), and Mary Daly Speaks at 2:30 PM ET.
S&P 500 Futures: FAANG Gives Back Election Gains
After trading lower in Thursday nights globex session, the S&P 500 futures opened Friday’s cash session at 2793.00. The futures quickly moved to what would be the high of day at 2795.75, before then reversing, turning lower, and not looking back until late in the day. One sell program after another pulled the ES down to 2778.25 in the first hour, and then after a 10.50 handle bounce, sold off down to 2771.00 for the morning low.
The afternoon saw selling continue, as the ES made the low of day at 1:15, printing 2764.50, and then began to reverse quickly, pushing back up near the open to an afternoon high of 2791.25, a 26.75 bounce in 90 minutes. From there, the futures traded back down to 2776.50, printing 2781.25 on the 3:00 close, and settling the day at 2779.00, down -29.75 handles, or -1.05%.
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