Wednesday morning, the S&P 500 Index e-mini futures (ES-Z2) traded higher by 3.25 points to $1452.50 per contract. The small rise in the stock futures come as the U.S. Dollar Index plunges lower. Wednesday, the U.S. Dollar Index futures (DX-Z2) declined lower by 0.43 cents to $79.03 per contract. While this decline may not seem like much it can move markets. Remember, the major stock indexes trade inverse to the U.S. Dollar Index at this time.
Corporate earnings are being released in droves today and throughout the rest of the week. Tuesday, technology leaders such as International Business Machines Corp (IBM), and Intel Corporation (INTC) reported earnings that were not well received by investors. This tells us that technology stocks could come under pressure at the start of the trading day.
Traders should watch for volatility in tech equities such as the Technology SPDR ETF (XLK), ProShares Ultra QQQ ETF (QLD), ProShares UltraShort QQQ ETF (QID), and the Direxion Daily Semiconductor Bear 3X Shs (SOXS). Please note, while the S&P 500 Index e-mini futures traded higher before the opening bell the NASDAQ e-mini futures (NQ-Z2) traded lower.
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Earnings Galore, Know These Levels
Published 10/18/2012, 01:50 AM
Updated 07/09/2023, 06:31 AM
Earnings Galore, Know These Levels
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