Index Futures Net Changes and Settlements:
|S&P 500 (ESM18:CME)||2729.50||+10.75||+0.39%|
|Nasdaq 100 (NQM18:CME)||6960.00||-5.00||-0.07%|
|Russell 2000 (RTYM:CME)||1609.50||+4.30||+0.26%|
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed higher: Shanghai Comp +0.34%, Hang Seng +1.35%, Nikkei +0.47%
- In Europe 9 out of 13 markets are trading lower: CAC -0.22%, DAX -0.37%, FTSE -0.20%
- Fair Value: S&P -0.83, NASDAQ +4.01, Dow -23.49
- Total Volume: 1.05mil ESM & 791 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Loretta Mester Speaks 2:45 AM ET, and James Bullard Speaks 9:40 AM ET.
S&P 500 Futures: #ES Up 7 In A Row
After holding firm for much of the overnight session, even while Europe was weak, the S&P 500 futures opened Friday’s 8:30 AM CST regular session at 2722.25, up +3.75 handles. The first move after the bell was to make an early low at 2720.25. From there, a wave of strong buying came in to push the benchmark index future up to 2731.25 just after 9:00 AM. After briefly falling back to 2726.00, buyers again came in to push to a high print of 2732.5, up +14.00 handles just after 10:00 AM CST.
The futures saw a little weakness going into the Euro close and through the midday trade, retracing the day’s move back through the opening print, and making a new daily low at 2719.25 just before 11:30. The break was followed by a bounce up to 2724.75, before making a lower retest of 2716.75 just after 1:00 pm.
In the final part of the day the equity futures rallied, even as the MiM started lining up orders to the sell side. As the MOC came in at $525 million to sell, the ES sold off a little, down to 2723.50, before rallying back up to print 2727.25 on the 3:00 PM CST cash close. The futures went on to trade higher up to 2729.75 before settling the day up +11.00 handles on the session, or +0.40%.
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.