Muted Global Markets In Front Of U.S. Jobs Report

Commentary, News

Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 3000.25+20.75+0.69%
DowJones (YMU19:CBT)26,970+173+0.64%
Nasdaq 100 (NQU19:CME)7887.50+549.25+0.62%
Russell 2000 (RTYU19:CME)1578.00+11.70+0.74%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed higher: Shanghai Comp +0.19%, Hang Seng -0.07%, Nikkei +0.20%
  • In Europe 13 out of 13 markets are trading lower: CAC -0.33%, DAX -0.33%, FTSE -0.32%
  • Fair Value: S&P +3.78, NASDAQ +25.37, Dow -1.95
  • Total Volume: 798k ESU & 225 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes the Employment Situation 8:30 AM ET, Fed Balance Sheet & Money Supply 4:30 PM ET.

S&P 500 Futures: ES 3000.00

Chart courtesy of Scott Redler @RedDogT3$spx futures -4 as overseas was pretty quiet. The street wants Inline jobs data. Now see if 2972-2977 area holds to try and Tack on gains above 2995. Manage your trades.

During Tuesday nights Globes session, the S&P 500 futures printed a low of 2973.75, a high of 2988.25, and opened Wednesday regular trading hours (RTH) at 2983.75.

Even with the abbreviated trading session, and the fact that most traders had already left for a long holiday weekend, the buying was consistent throughout the day. Bears got trapped, and bulls got paid, once again.

After trading down to 2981.50 on the 8:30 CT bell, there was barely a pullback, not even when the ES breached the 3000 level, and printed a new record high at 3001.00. 

When the MiM reveal came out showing $617 million to buy MOC, the futures continued to hold the higher ground, and closed out the session at 3000.75, +20.75 handles on the day.


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Danny Riley (3546 Posts)

Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders. As a leader and co-creator of the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.

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