Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed higher: Shanghai Comp +0.39%, Hang Seng +0.43%, Nikkei +0.03%
- In Europe 10 out of 12 markets are trading higher: CAC +0.15%, DAX +0.03%, FTSE +0.04%
- Fair Value: S&P +1.50, NASDAQ +11.41, Dow -9.22
- Total Volume: 1.3mil ESH & 400 SPH traded in the pit
Today’s Economic and Earnings Calendar:
Chicago Fed National Activity Index, 8:30 a.m. Eastern Earnings: Halliburton (NYSE:HAL), 6:45 a.m.; TD Ameritrade, 7:30 a.m.; ResMed, 4 p.m.; Netflix (NASDAQ:NFLX), 4:05 p.m. (approx.); Woodward, 4:05 p.m.; Zions Bancorp; 4:10 p.m.; Brown & Brown, 4:09 p.m.; Steel Dynamics, 6:00 p.m.
S&P 500 Futures: Up 5.3% In 2018, Best 13-Day Start To A Year Since 1987
It seems the world markets didn’t care too much about U.S. government shutdown, nor does the S&P.
Friday, the Asian markets closed firm, and the German DAX was up 1%. In the U.S., the S&P 500 futures made an overnight low on Globex 2791.75, and traded all the way up to 2806.00, with 275,000 lots traded. On the 8:30 CT futures open, the ES traded 2806.25, sold off a little, then rallied up to 2805.25. After that, it sold off down to 2801.50, rallied up to 2806.25, and then double bottomed at 2802.50.
From 10:00 AM to 1:00 PM the ES traded in a three handle range. Around 1:15 it started hitting some buy stops and running some buy programs, which helped push the futures up to a new all time contract high at 2809.75. Unlike Thursday, when most people were saying there was going to be a government shutdown, a late headline came out from a source familiar with the Schumer-Trump meeting saying he did not think there would be a government shutdown. He said that progress was being made, but there were still a number of disagreements. We all know what happened next though…
As the MiM went from over $500 million to buy to $973 million to buy, the ES popped up to another new high at 2812.50, up 15.5 handles or + 0.49%. At 2:45 the NYSE imbalance came out buy $1.4 billion. On the 3:00 cash close the ES traded up to 2815.25, and then went on to settle at 2811.00.
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