Stock futures are pointing higher on Friday morning with the U.S. and China planning to resume trade talks in mid-October.  A rally today would help offset the weekly losses for the stock indexes.  The S&P, Nasdaq and Dow were all headed to end the week lower snapping a three-week winning streak.  The hope is that the two countries can end the tariff war which has seen both imposing billions of dollars’ worth of taxes on each other’s imports.  According to the Ministry of Commerce, some Chinese importers have made deals to buy American soybeans and pork to show goodwill before the talks. “A favorable development on the trade front — that would be the biggest catalyst at this point” to drive equities higher, Brian Jacobsen, multi-asset strategist at Wells Fargo Asset Management, told Bloomberg TV. “We seem to be just waiting and seeing” until the high-level U.S.-China talks next month, he said.

Support today is 296400 and 294800 while resistance is showing 299600 and 301200.

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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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