RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stock futures are trading lower today before commentary from Jerome Powell, the Federal Reserve Chief, on the state of the economy and monetary policy. The major indexes are trading near all-time highs as e-traders see the economy rebounding and better than expected earnings from the corporate sector. However, some analysts are warning that stocks will struggle in the coming months because of the new increase in Covid-19 infections and the impact of global re-openings. U.S. jobless claims released today checked in at 360,000 a drop of 26,000. This is the lowest number since the pandemic started and a great indicator that the economy and job markets are quickly rebounding. The impressive jobs number also saw the 10-year treasury yield drop to 1.32%.

Support today is 435000 and 433500 with resistance checking in at 438500 and 440500.

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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