Stocks Mixed Heading into Opening Bell

September 15, 2017 8:53AM CDT

Stock indices appear poised to open at or near unchanged this morning. Considering the overnight turmoil we saw in London and North Korea and the miss on the retail sales number, this is actually somewhat encouraging for the bulls. While one could make the case that Hurricane Harvey was probably at least in part responsible for the weak number, this data reflects only the very beginning of the Hurricane. That said, it is pretty safe to say it will factor more heavily into the data moving forward. 

The Dow, S&P, and Nasdaq head into next week’s FOMC meeting near all-time highs. Not many believe we’ll see any meaningful changes, but we’ll have to pay close attention to the dialogue for clues as to future rate hike decisions. After last week’s debt ceiling agreement, tax reform seems to have moved a bit closer to the forefront in Washington. Perhaps the recent agreement will prove to be a path towards a bit more progress there, but I’m not going to get too optimistic just yet. The two sides seem to be pretty far apart on this issue, but we’ll see if some kind of compromise can be agreed upon.  

 

Sep '17 Emini S&P Daily Chart

Sep '17 Emini S&P Daily Chart

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that RJO Futures believes to be reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.

Distribution in some jurisdictions may be prohibited or restricted by law. Persons in possession of this communication indirectly should inform themselves about and observe any such prohibition or restrictions. To the extent that you have received this communication indirectly and solicitations are prohibited in your jurisdiction with registration, the market commentary in this communication should not be considered a solicitation.