Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 11 out of 11 markets closed lower: Shanghai Comp -5.58%, Hang Seng -2.90%, Nikkei -0.22%
- In Europe 12 out of 13 markets closed lower: CAC -1.86%, DAX -1.72%, FTSE +0.40%
- Fair Value: S&P +1.23, NASDAQ +12.17, Dow -31.04
- Total Volume: 1.28 million ESM & 285 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Patrick Harker Speaking at 9:30 AM ET, and TD Ameritrade IMX 12:30 PM ET.
S&P 500 Futures: Jobs Day Up, Up And Away
Commentary courtesy of Scott Redler @RedDogT3 – Good morning. $spx futures -50. The Trump ultimatum was definitely a big Curve Ball. Markets and charts closed well Friday. I’m sure many traders are caught (like me). I will look for “Morning Reactionary lows” then use them to try & add and adjust. If they break, salvage.
During Thursday nights Globex session, the S&P 500 futures (ESM19:CME) printed a low of 2916.50, and rallied after the positive jobs number to a high at 2934.00, then opened Friday’s regular trading hours at 2933.75.
After the 8:30 CT bell, continued strength from the solid jobs report helped push the ES up to an early high at 2938.75. From there, the futures pulled back a few handles, and then started a second leg higher, this time stopping at 2942.75 for a few minutes on its way up to 2949.00.
Heading into the close, the ES retraced a little, and when the 2:45 cash imbalance reveal came out showing $225M to buy, it was trading at 2945.00. The futures went on to print 2945.75 on the 3:00 cash close, and ended the week at 2947.50 on the 3:15 futures close, up +30 handle on the day.
In the end, the overall tone of the ES was strong. In terms of the days overall trade, total volume was lower, with 1.3 million futures contracts traded.
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