Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed higher: Shanghai Comp +0.18%, Hang Seng +0.08%, Nikkei +0.16%
- In Europe 11 out of 13 markets are trading lower: CAC -0.69%, DAX -0.61%, FTSE -0.04%
- Fair Value: S&P +4.62, NASDAQ +22.23, Dow +12.57
- Total Volume: 1.76mil ESZ & 637 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, PPI-FD 8:30 AM ET, Atlanta Fed Business Inflation Expectations 10:00 AM ET, Wholesale Trade 10:00 AM ET, Charles Evans Speaks 12:15 PM ET, and Raphael Bostic Speaks 6:00 PM ET.
S&P 500 Futures: Choppy Trade Infront Of Bank Earnings
After dragging lower for much of the globex session, the S&P 500 futures opened the regular session at 2885.50, down -8.50 handles, but 11.00 handles off the overnight low. The first move after the 8:30 am CT bell was down to an early low at 2879.00, followed by a rally through the end of the first hour up to 2899.75. After that, the S&P reversed as sell programs hit the tape, pulling the benchmark index future down to 2886.75 just after 10:00, and then after a late morning lower high of 2899.00, the ES drifted lower into the afternoon.
The noon hour saw a 2881.50 low, and the ES grinded higher for the rest of the afternoon printing, the a high of 2893.50, before chopping into the close as the MOC reveal came out showing $700 million to buy. The 3:00 cash close print was 2886.00, and the day settled at 2887.75, down -6.00 handles, or -0.20%.
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