Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed lower: Shanghai Comp -0.91%, Hang Seng -0.21%, Nikkei -0.78%
- In Europe 12 out of 13 markets are trading higher: CAC +1.25%, DAX +1.58%, FTSE +0.64%
- Fair Value: S&P +1.35, NASDAQ +18.52, Dow -18.57
- Total Volume: 857k ESU & 624 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Weekly Bill Settlement, Challenger Job-Cut Report 7:30 AM ET, ADP Employment Report 8:15 AM ET, Jobless Claims 8:30 AM ET, Bloomberg Consumer Comfort Index 9:45 AM ET, PMI Services Index 9:45 AM ET, ISM Non-Mfg Index 10:00 AM ET, EIA Petroleum Status Report 11:00 AM ET, FOMC Minutes 2:00 PM ET, Fed Balance Sheet and Money Supply 4:30 PM ET.
S&P 500 Futures: Pre-Holiday Gap & Drop
Monday night, the Asian market and European markets rallied, and just after 7:00 CT the S&P 500 futures traded all the way up to 2741.50, up +14.25 handles on Globex. The ES then pulled back a bit and opened at 2736.50, traded up to 2738.00, ‘back and filled’ between 2736.50 and the 2732.00 area, and then dropped down to 2728.25. The futures then had one last rally up to the vwap at 2733.00, and at 11:57 traded down to 2712.00, down -14.75 handles on the day, and down almost 30 handles from the Globex high. After a small bounce up to 2719.50 the ES sold back off down to 2713.25 on the 12:15 futures close.
While the ES did not go out on its ‘highs’, it did rally, it just could not hold the rally. In terms of the days overall volume, 834,000 futures traded, and for a half day that’s a pretty high number.
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