U.S. stock futures rose this morning with the release of stronger than expected earnings from J.P Morgan Chase.  The banking giant’s number vaulted more than 2.5% before the bell and the Dow gained 230 points at the open.  The better than anticipated number was attributed to the impact of higher rates. In recent months, U.S. banks have underperformed with looming fears of a recession.  Bank executives have been side-stepping these concerns by emphasizing the current loan growth.  Business Insider had published this Jamie Dimon quote today.  “In the first quarter of 2019, we had record revenue and net income, strong performance across each of our major businesses, and a more constructive environment,” CEO Jamie Dimon said in the earnings release “Even amid some global geopolitical uncertainty, the US economy continues to grow, employment and wages are going up, inflation is moderate, financial markets are healthy, and consumer and business confidence remains strong.”

Resistance is showing 289900 and 291000 with support being 288400 and 287500.

E-Mini S&P 500 Jun ’19 Daily Chart

E-Mini S&P 500 Jun '19 Daily Chart

 

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Jeff Yasak

Senior Market Strategist
Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.
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