Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 10 out of 11 markets closed higher: Shanghai Comp +2.70%, Hang Seng +4.21%, Nikkei +2.56%
- In Europe 12 out of 13 markets are trading higher: CAC +1.48%, DAX +1.77%, FTSE +0.48%
- Fair Value: S&P -0.35, NASDAQ +7.26, Dow -38.56
- Total Volume: 1.81mil ESZ & 598 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Motor Vehicle Sales, Employment Situation 8:30 AM ET, International Trade 8:30 AM ET, Factory Orders 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.
S&P 500 Futures: More Buy Stops And Buy Programs
After trading higher in the overnight session, the S&P 500 futures opened yesterday’s 8:30 CT regular trading hours at 2720.50. The first move was a trade down to an early low at 2707.75, followed by a rally up to a 2734.75 high just after 10:30, and then a break down to a 2725.50 late morning low.
The afternoon was choppy, trading in a 10 handle range from 11:30 CT into the closing minutes, before breaking out and making a high of day at 2741.25. The benchmark futures went on to print 2738.50 on the 3:00 close, and settled the day at 2738.00, up +27.00 handles, or +1.00%.
In the end the overall tone of the ES was firm. There were several 8 to 10 handle drops that gave the look that the ES was trading soft, chopping up and down, getting the retail traders short into the selloffs. In terms of the days overall trade, the ES volume was lowest in the last two weeks.
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