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Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESU18:CME) | 2852.25 | +7.50 | +0.26% |
| DowJones (YMU18:CBT) | 25,674 | +982 | +0.31% |
| Nasdaq 100 (NQU18:CME) | 7387.75 | -1.25 | -0.01% |
| Russell 2000 (RTYU:CME) | 1696.90 | +7.70 | +0.45% |
Foreign Markets, Fair Value and Volume:
- In Asia 9 out of 11 markets closed higher: Shanghai Comp +1.11%, Hang Seng +1.41%, Nikkei -0.32%
- In Europe 12 out of 13 markets are trading higher: CAC +0.54%, DAX +0.92%, FTSE +0.31%
- Fair Value: S&P +1.03, NASDAQ +8.92, Dow -2.48
- Total Volume: 1.91mil ESU & 308 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Raphael Bostic Speaks 11:00 AM ET, a 4-Week Bill Announcement 11:00 AM ET, a 3-Month Bill Auction 11:30 AM ET, and a 6-Month Bill Auction 11:30 AM ET.
S&P 500 Futures: Late Friday Rip to 2857
The S&P 500 futures traded lower in globex before opening Friday’s cash session at 2839.50. After the bell, the ES traveled up to an early high of 2844.00 before trading lower in the early session, making the daily low of 2835.00 just before 9:30 ct, and then chopped higher, eventually breaking out with buy programs that pushed the benchmark futures up to 2848.50 for the morning high.
In the afternoon, the ES pushed buy stops higher, printing the days high of 2857.00 just before 2:00, then backed off going into the close, printing 2851.75 on the cash close, and settling the day at 2852.50 up +7.25 handles or +0.24%.
In the end, it was the headline news that sold the markets off, and it was the headline news that rallied the markets. Friday, the news was that Mexico was nearing a deal, and the the US and China were working on a ‘road map’ to resolve the trade disputes. Like I said over a month ago when it was reported that the EU was trying to get a tariff deal done, China would end up doing the same thing. It’s an old story, how do you argue with your largest customer?
In terms of the ES’s overall tone, it has improved significantly over the last few days. In terms of Friday overall trade, total volume was 1.91 million contracts, but part of that was due to the August options expiration.
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As always, please use protective buy and sell stops when trading futures and options.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
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