Jobs Friday Rip Then Dip

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 11 out of 11 markets closed lower: Shanghai Comp -0.82%, Hang Seng -1.19%, Nikkei -2.12%
• In Europe 12 out of 13 markets are trading lower: CAC -0.54%, DAX -0.52%, FTSE +0.28%
• Fair Value: S&P +0.72, NASDAQ +1.73, Dow +17.60
• Total Volume: 2.57mil ESZ & 657 SPZ traded in the pit

_{As of 8:00 AM EST}

Today’s Economic Calendar:

Today’s economic calendar includes JOLTS 10:00 AM ET, a 3-Month Bill Auction 11:30 AM ET, a 6-Month Bill Auction 11:30 AM ET, and TD Ameritrade IMX 12:30 PM ET.

S&P 500 Futures: The Italy, Brexit, China Calamity

Chart courtesy of @Chicagostock – $YM_F Knock, Knock, Knock… Who’s home <24000?

After giving back some ground Thursday night, the S&P 500 futures rallied on the jobs number, and opened Friday’s regular trading hours at 2691.75. The benchmark futures quickly pushed higher, printing 2709.75, before suddenly turning lower as sell programs pulled the ES down to 2667.50 for a mid morning low. After a 15 handle bounce, programs again turned to the sell side, smashing the ES down to the morning low of 2642.50.

The afternoon saw a bounce to 2666.25, before again turning lower, giving way to sellers that smashed the equity futures down to 2631.50. Then, following a 16.25 handle rally, the ES went on to print the low of day of 2623.25 early in the final hour, before a rally to 2651.75. The futures printed 2633.50 on the 3:00 cash close with the final closing balance showing a $1.3 billion to sell MOC, and then settled the day at 2635.00, down -56.00 handles, or -2.08%.

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