Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed lower: Shanghai Comp +0.02%, Hang Seng -1.01%, Nikkei -3.72%
- In Europe 7 out of 13 markets are trading higher: CAC +1.18%, DAX +0.25%, FTSE -0.06%
- Fair Value: S&P +0.30, NASDAQ +9.58, Dow -25.82
- Total Volume: 2.84mil ESZ & 910 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Weekly Bill Settlement, Durable Goods Orders 8:30 AM ET, International Trade in Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, Retail Inventories 8:30 AM ET, Wholesale Inventories 8:30 AM ET, Pending Home Sales Index 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Kansas City Fed Manufacturing Index 11:00 AM ET, Richard Clarida Speaks 12:15 PM ET, Fed Balance Sheet and Money Supply 4:30 PM ET, and Loretta Mester Speaks 7:00 PM ET.
S&P 500 Futures: #ES Down 19 Of The Last 24 Sessions
After retracing in the globex session, the S&P 500 futures opened Wednesday’s regular session at 2739.00, down -17.00 handles. After the 8:30 CT bell, the benchmark futures chopped around, making the high for the day at 2743.50 in the first fifteen minutes, then started to sell off at 9:00 as sell programs and momentum picked up. Selling pressure pulled the ES down to 2704.50 just after 10:00, and then, after a shallow bounce, re-tested the low, making a morning low of 2703.75 just after 10:30. From there, the futures rallied up to 2728.75 at 11:00, before trailing back lower to close the morning.
The afternoon saw a continued grind lower, making a new low of day just after noon, and in a lot of two sided price action made its way down to 2693.00 right at 1:00, just above Tuesday’s low. After that, the ES rallied up to 2712.00, and then turned back lower into the final hour.
The S&P 500 made a new low in the 2:00 hour, breaking into negative territory for 2018. The futures dumped with a heavy wave of selling down to 2652.25. The ES went on to rally up to 2658.25 on the 3:00 cash close, and then up to 2672.25 before settling the day at 2665.50, down -81.25 handles, or -2.96%.
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