Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.87%, Hang Seng -1.15%, Nikkei -0.43%
- In Europe 11 out of 13 markets are trading lower: CAC -0.10%, DAX -0.06%, FTSE +0.01%
- Fair Value: S&P +4.46, NASDAQ +27.64, Dow +7.66
- Total Volume: 902K ESU & 230 SPU traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes the 8-Week Bill Settlement, John Williams (NYSE:WMB) Speaks 8:45 AM ET, Redbook 8:55 AM ET, S&P Corelogic Case-Shiller HPI 9:00 AM ET, FHFA House Price Index 9:00 AM ET, New Home Sales 10:00 AM ET, Consumer Confidence 10:00 AM ET, Richmond Fed Manufacturing Index 10:00 AM ET, Raphael Bostic Speaks 12:00 PM ET, Jerome Powell Speaks 1:00 PM ET, and James Bullard Speaks 6:30 PM ET.
S&P 500 Futures: Low Volume Grind
Chart courtesy of Scott Redler @RedDogT3 – $spx futures -5 as the Markets try and prove they can hold higher with all the macro tensions and Sector Divergences.
During Sunday nights Globex session, the S&P 500 futures (ESU19:CME) printed a high of 2961.75, a low of 2947.25, and opened Monday’s regular trading hours at 2956.25.
After the 8:30 CT bell, the ESU made a quick trip down to 2952.75, and then settled into a quiet 7 handle range for the rest of the morning and into the afternoon. It was not a setup for day traders to hold onto runners. You definitely had to play both sides to make any money. I, personally, sat on my hands for most of the day.
By 2:15, the futures had finally broken out of the range, and printed a new RTH low at 2950.50. Other than that, there was very little excitement going into the close.
When the MiM reveal came out showing $597 million to buy, the ES was trading at 2952.50. It would then go on to print 2950.75 on the 3:00 cash close, and 2952.25 on the 3:15 futures close, up +2 handles on the day.
In the end, the overall tone of the ES was firm, but slow. In terms of the days overall trade, total volume was low, with only 900K futures contracts traded.