Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed lower: Shanghai Comp -0.47%, Hang Seng -0.99%, Nikkei -0.41%
- In Europe 7 out of 13 markets are trading higher: CAC +0.31%, DAX +0.14%, FTSE -0.25%
- Fair Value: S&P -0.81, NASDAQ +5.15, Dow +14.26
- Total Volume: 1.60mil ESU & 236 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes the Weekly Bill Settlement, Challenger Job-Cut Report 7:30 AM ET, ADP Employment Report 8:15 AM ET, Jobless Claims 8:30 AM ET, Productivity and Costs 8:30 AM ET, PMI Services Index 9:45 AM ET, John Williams Speaks m10:00 AM ET, Factory Orders 10:00 AM ET, ISM Non-Mfg Index 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, Fed Balance Sheet and Money Supply 4:30 PM ET.
S&P 500 Futures: Pre-China Tariff Dump
Overnight, weakness in Asia and Europe kept the U.S. equity futures lower, as the S&P 500 futures traded in a 15.50 handle range before opening the regular session at 2893.00, down -5.50 handles. The benchmark futures traded up to a early high in the first fifteen minutes at 2895.00 before strong sell programs hit the tape at 8:50. The wave of selling continued until 9:25 when the ESU bottomed at 2877.50, down -20.75 handles. However, buy programs hit the tape pushing the ES up to 2886.76 before a retest and higher low of 2879.25 printed at 10:30 launching the ES up to a late morning high of 2891.50 just after 11:30 am cst.
The afternoon saw a sideways trade, pushing to an afternoon high of 2893.50 at 12:30, and chopped into the 1.5 billion to sell MOC. The ES began to drift lower down to an afternoon low of 2884.75 before rallying into the bell up to 2890.75, then printing 2888.50 on the 3:00 cash close, and settled there at 3:15, down -9.75 handles, or -0.34%.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.