MrTopStep’s Index Futures Recap: October 14th 2015
Last night, the S&P 500 futures opened the globex session at 1991.50 down 3 ticks and traded sideways during much of the overnight session, making a high of 1998.50 at 7:30 CT after a low of 1989.25 early in the Euro session.
At the regular trading hours open, the S&P futures opened at 1995.00 up 2.75 handles on the day and traveled higher early, making a high of 2001.75 in the first half hour of trade before sell programs took the morning over, driving price down to 1985.25 at 10:00 CT. At that point, more than 15 handles from the high of day. After rallying during the lunch hour up to 1998.50, the index futures failed once again in the afternoon trading down to 1982.50, nearly 20 handles from the highs on a flat MOC (market-on-close) imbalance. The ESZ5 closed just ticks off the lows.
Heard across the news today was the retail sales and CPI misses earlier in the day, which added to recent rhetoric concerning an impending interest rate hike. The Fed’s Lacker did speak today, saying that he has not decided his position heading into the October meeting of the Federal Reserve Governors; however, he did suggest that recent volatility and disappointing jobs data shouldn’t factor into the Fed’s decision.
Heading into tomorrow are several economic releases, but with less impacting data. However, Goldman Sachs and other financials will continue reporting tomorrow, as the banking sphere has had mixed results thus far in announcing Q3 earnings, but with earnings coming in mostly in line with expectations, as fears of a Q3 massacre to the like of Deutsche Bank (N:DB)’s nearly 7 billion euro loss should be subsiding.
Seen Today In The IM Pro Trading Room:
Chicagostock ( 1:27:48 PM ): 83 next
Livesquawk ( 3:26:56 PM ): Talk of real money selling half a yard of Dec eminis, according to MNI. Says activity is picking up into the close
Dboy2 ( 3:57:15 PM ): PITBULL: More flips than a pancake
Floor Pivots For Tomorrow’s RTH E-mini
R3 2028.00
R2 2008.75
R1 1996.50
PP 1989.50
S1 1977.20
S2 1970.25
S3 1951.00
Tomorrow’s Notable Earnings: BB&T Corp (N:BBT) Blackstone Group LP (N:BX) Charles Schwab Corp (N:SCHW) Citigroup Inc (N:C) © Goldman Sachs Group Inc (N:GS) Mattel Inc (O:MAT) Philip Morris International Inc (N:PM) Schlumberger NV (N:SLB)
Tomorrow’s Economic Calendar:
Weekly Bill Settlement
3-Yr Note Settlement
10-Yr Note Settlement
30-Yr Bond Settlement
Consumer Price Index8:30 AM ET
Jobless Claims 8:30 AM ET
Empire State Mfg Survey8:30 AM ET
James Bullard Speaks 9:30 AM ET
Bloomberg Consumer Comfort Index 9:45 AM ET
Philadelphia Fed Business Outlook Survey10:00 AM ET
EIA Natural Gas Report 10:30 AM ET
William Dudley Speaks 10:30 AM ET
EIA Petroleum Status Report 11:00 AM ET
Treasury Budget 11:00 AM ET
3-Month Bill Announcement 11:00 AM ET
6-Month Bill Announcement 11:00 AM ET
30-Yr TIPS Announcement 11:00 AM ET
Loretta Mester Speaks 4:30 PM ET
Fed Balance Sheet 4:30 PM ET
Money Supply 4:30 PM ET