RJO FuturesCast

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Good Week for U.S. Stocks

Posted 01/18/2019 9:15AM CT | Jeff Yasak

U.S. stock futures were up Friday, looking for the forth straight day of gains as investors are banking on Washington easing tariffs on Chinese goods. This comes on the heels of a Thursday report claiming US Treasury Secretary Steven Mnuchin was considering scaling back on said tariffs. The gains were not extraordinary, but the market surely is paying more attention to the positive than the negative news. Futures stayed bullish despite rising interest rates, 27 days of government shutdown, Tesla’s layoff announcement and a Netflix earnings miss.

Resistance is checking in at 265600 and 267500 with signs of support at 241050 and 238300.

E-Mini S&P 500 Mar ’19 Daily Chart

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

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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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