Equity

Stock Futures Mixed on New Covid Fears

Posted 11/19/2021 9:01AM CTJeff Yasak

U.S. Stock futures are mostly lower this morning with the Dow and S&P 500 trending to extend Thursday’s losses. This is mostly due to new Covid-19 fears creating some lockdowns in Europe. Early gains were wiped out after the Austrian government imposed a new 10–20-day lockdown in response to rising cases seen in that country. This will include both vaccinated and unvaccinated. Conversely, Nasdaq futures are trading higher this morning supported by stocks related to the “Stay-at-Home” trade that was very prevalent in 2020.  These stocks include Amazon, Zoom, Netflix and Teledoc. There isn’t any relevant economic data being released today but traders will be watching D.C. as the House is expected to Pass Biden’s “Build Back Better Bill”. This bill includes the spending of $1.85 trillion on healthcare, education and climate.

Support today is 4668500 and 465500 with resistance checking in at 472500 and 473200.

E-mini S&P 500 Dec ’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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