RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Uncertainties over the impact of the expected tariff announcement from the Trump administration Thursday is enough to keep sellers busy overnight. Foreign shares saw mixed results as the Shanghai composite and the Hang Sang indices posted minimal losses while the Japanese Nikkei saw a respectable gain.

The U.S. session will start out with a weekly initial jobless claims announcement that is expected to have a minimal down-tick from the previous 226,000 reading. The January FHFA housing price index is forecast to have a minimal uptick from December .3% reading.

Tariff uncertainties will likely reach their highest levels today as the market should look to settle after the release. However, fears of retaliation, concerns over the lack of advancement on the spending bill due Friday and ideas that the Fed will take a tough stance as the economy grows are all short-term headwinds for the market. The Fed hiked rates as expected and while they did not signal four rate hikes this year, they foretasted three in 2019 and another two in 2020. Resistance is around 2733 with support at 2703.

E-mini S&P 500 Jun ’18 Daily Chart

e-mini_s&p_jun18_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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