Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.48%, Hang Seng -0.54%, Nikkei +0.53%
- In Europe 9 out of 13 markets are trading higher: CAC +0.38%, DAX +0.28%, FTSE +0.25%
- Fair Value: S&P -0.03, NASDAQ +7.10, Dow -5.19
- Total Volume: 1.05mil ESM & 738 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes the Weekly Bill Settlement, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET, Bloomberg Consumer Comfort Index 9:45 AM ET, E-Commerce Retail Sales 10:00 AM ET, Leading Indicators 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Neel Kashkari Speaks 10:45 AM ET, Robert Kaplan Speaks 1:30 PM ET, Fed Balance Sheet and Money Supply 4:30 PM ET.
S&P 500 Futures: #ES Onward And Upward
Wednesday’s trade started with an overnight Globex range of 2704.50 to 2714.75, with 146,000 ESM18 contracts traded. The first print on the 8:30 futures open came in at 2711.50. The initial move was a rally up to 2716.25, followed by a small pullback, and then another rally up to a new new high at 2720.00. After a move back down to 2712,00 there was a rip all the way up to 2727.25, and then the ES ‘back and filled’ between 2726.50 and 2722.00 from 11:45 CT to around 1:45.
Going into the final hour there was a pop up to a new high at 2728.00 as the MiM started showing over $100 million to buy. After the new high the ES quickly sold off down to 2717.25, a 10.75 handle pullback in less than an hour. On the 3:00 cash close the ES printed 2722.75, and on the 3:15 futures settlement the futures ended the day at 2722.75, up +13.75 handles, or +0.51%.
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