RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stock indexes were trading lower today as inflation data was released along with some earnings of high-profile companies. The (PCE) personal consumption expenditures in June showed the price of goods and services rising 0.4% in June, slower than the may number of 0.5% and lower than the expected number of 0.6%.  The PCE is an inflation measure that the Fed watches very closely. The second month in a row of decelerated price growth gives them some room to pull back from their emergency market support.  Amazon released earnings this morning with revenues topping $100 billion for the third straight quarter, but it missed analysts estimates for the first time in three years.  Chevron, Exxon and Caterpillar showed profits from cost cuttings during the pandemic.

Support today is 438500 and 436000 with resistance showing 443000 and 444500.

E-mini S&P 500 Sep’21 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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