Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed lower: Shanghai Comp -0.18%, Hang Seng -0.72%, Nikkei +1.30%
- In Europe 13 out of 13 markets are trading lower: CAC -0.46%, DAX -0.78%, FTSE -0.68%
- Fair Value: S&P +0.73, NASDAQ +3.15, Dow +14.81
- Total Volume: 1.24mil ESU & 374 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes NFIB Small Business Optimism Index 6:00 AM ET, Redbook 8:55 AM ET, JOLTS 10:00 AM ET, and Wholesale Trade 10:00 AM ET.
S&P 500 Futures: #ES ‘Back and Fill’
After trading higher in the overnight session, the S&P 500 futures opened yesterday’s regular trading hours at 2885.25, up +11.50 handles. The first move after the bell was a rally up to the high of day at 2888.25 just after 8:50, and then the futures gave way to sell programs at the top of the 9:00 hour, pulling the ES down to a first hour low of 2878.00. From there the futures then pushed to a 2884 lower high, then fell below the open, leading to a retest of the 2878.00 low just after 10:00, and then pushed up to 2884.25 to make the late morning high.
The morning close saw a weak chop down to the low of the day, which came in at 2876.50 right at noon, and the early afternoon gave way to a slow grind higher, printing a mid afternoon high of 2882.25 heading into the final hour. The last hour of the day saw a continued move higher, up to a late day high of 2883.00, before a wave of late selling hit pulling the ES down to 2877.50. The benchmark futures went on to print 2778.50 at 3:00 before settling the day at 2880.50, up +5.75 handles, or +0.20%.
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