RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Global equity markets were mixed overnight with Pacific Rim stocks and the XETRA DAX managing to gain modestly and the rest of the world under minor pressure.  The Asian economic calendar started off with a February reading for Chinese foreign exchange reserves which surprised with an increase back above the $3 trillion mark and that probably helped Asian markets track positively overnight.  However, the European session started out with January German factory orders which fell by the biggest monthly amount since 2009, and that might have started out European and US stocks on a back foot. 

While the March E-mini S&P did not forge a lower low overnight, it has initially favored the lower half of the prior sessions range down move.  As mentioned already, the offering of a replacement for the affordable care act looks to spark another round of political sniping and perhaps a temporary drift away from pro-growth policy efforts.  It does appear as if stocks in general are reacting negatively to positive US data and that isn’t surprising considering the markets expanding expectations toward the rate hike next week

S&P E-mini Mar17 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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