Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESZ18:CME) | 2745.50 | -35.50 | -1.27% |
| DowJones (YMZ18:CBT) | 25,185 | -334 | -1.30% |
| Nasdaq 100 (NQZ18:CME) | 7031.00 | -1.00 | -0.01% |
| Russell 2000 (RTYZ17:CME) | 1553.70 | -16.80 | -1.06% |
Foreign Markets, Fair Value and Volume:
- In Asia 11 out of 11 markets closed higher: Shanghai Comp +0.91%, Hang Seng +2.12%, Nikkei +0.46%
- In Europe 13 out of 13 markets are trading higher: CAC +0.68%, DAX +0.62%, FTSE +0.76%
- Fair Value: S&P +2.96, NASDAQ +18.25, Dow -5.34
- Total Volume: 3.98mil ESZ & 1,352 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Import and Export Prices 8:30 AM ET, Charles Evans Speaks 9:30 AM ET, Consumer Sentiment 10:00 AM ET, Raphael Bostic Speaks 12:30 PM ET, Baker-Hughes Rig Count 1:00 PM ET, and Randal Quarles Speaks 10:30 PM ET.
S&P 500 Futures: #ES 2726.75 Low, Bring On The Bank Earnings
After trading in a 35.75 handle overnight range, with high volume, the S&P 500 futures opened yesterday’s regular trading hours at 2780.75, down a single tick. The first move after the bell was a run up to what would be the high of day in the opening half hour at 2798.75, before reversing and backing off down to a mid morning low of 2748.50 just after 10:00 CT. From there, the ES bounced to a late morning high of 2787.50 just after 11:00, and then traded back down to 2764.25 as the morning closed.
The afternoon saw a steady drag lower until 1:00 when the MiM opened up at $1.3 billion to sell. The ES then sold off down to a new low of day in short order, printing 2712.25, but then rallied up quickly to a late afternoon high of 2765.75 heading into 2:30. The actual MOC came out at $2.0 billion to sell, leading the S&P’s to be weak late in the day, but but unable to make a new low, printing 2730.75, then trading 2731.78 on the 3:00 close, before printing 2627.75 in the after hours and rising to settle the day at 2746.50, down -34.50 handles, or -1.24%.
The ES closed lower for the 7th day in a row. The low at 2726.75 is off 232.50 handles from the high over that period. After a day of wild swings, and the MiM that showing up to $3 billion for sale just before the cash close, the MiM moved all the way back to sell $178, and the ES traded all the way back up to 2753.50 going into the 3:15 CT futures close as a headline came out saying : US Treasury staff finds China is not manipulating its currency.
Lots of crazy stuff going on. In terms of the markets overall tone, it remains pretty negative, but after 7 down days and the news about the Trump / Xi meeting, it seems like there could be an upside bounce coming. In terms of yesterday’s overall trade, 3.98 million ESZ’s traded, which is the highest volume we have seen in over two years.
Daily HotSpots
HotSpots are times during the market trading session that for the past XX days have consistently moved in one direction or the other. These HotSpots are published each morning pre-market. The next day, a results post is also published and weekly a summary post.
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Early close days are considered non-trading in our normal count and are therefore skipped also.
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