Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed lower: Shanghai Comp +0.69%, Hang Seng +0.52%, Nikkei -1.51%
- In Europe 11 out of 13 markets closed lower: CAC -0.65%, DAX -0.56%, FTSE -0.91%
- Fair Value: S&P +0.80, Nasdaq +10.98, Dow -34.94
- Total Volume: 2.02 million ESM & 148 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes the 8-Week Bill Settlement, Robert Kaplan speaks 7:00 AM ET, Redbook 8:55 AM ET, JOLTS 10:00 AM ET, and Consumer Credit 3:00 PM ET.
S&P 500 Futures: Dump & Pump
During Sunday nights Globex session, the S&P 500 futures (ESM19:CME) gapped 30 points lower to open at 2917.75 after Trump tariff headlines hit the tape. 2917.75 would remain the high for the night, and the ES continuned down to print a low at 2883.50, and opened Monday’s regular trading hours at 2897.50.
The futures were strong after the 8:30 CT bell, and by 10:30 had recovered back up to 2924.50. From there, the ES did some back and fill down 2914.50, before rallying into the final hour. At 2:30 the futures had traded up to a new high at 2938.25, then pulled back a little to print 2933.75 on the 3:00 cash close, and ended the day at 2933.00 on the 3:15 futures close.
In the end, the overall tone of the ES was weak overnight and early in the day, but staged a big rally. In terms of the days overall trade, total volume was extremely high, with over 2 million futures contracts traded.
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