Stock Indices Recap - 11/3/2017

November 3, 2017 3:35PM CDT

December S&P finished up 6 at 2582.7, 1.8 off the high and 8 up from the low.
December S&P E-Mini closed up 6.25 at 2583. This was 9.5 up from the low and 2.5 off the high.


While the NASDAQ was the stellar performer today because of the upbeat sales and dialogue news from Apple, the rest of the market showed negative divergence in a fashion that could point to a passage of "buy the rumor" on the release of the US tax reform package. We are sure the weekend press will be rife with suggestions that the tax reform package will raise taxes on the middle class, lower taxes on the middle class, add to the deficit, stimulate the economy, that it won't stimulate the economy and lastly it will either raise the deficit or eventually reduce the deficit off better future growth. In the short term, headlines trumpeting the potential for a $1 trillion value in Apple provides underpin to the NASDAQ and probably helps to cushion the rest of the market from more aggressive corrective action.

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.