RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

September S&P finished up 2.5 at 2458.6, 1.9 off the high and 3.9 up from the low. September S&P E-Mini closed up 2.5 at 2458.5. This was 4.5 up from the low and 2 off the high.

After some initial stellar gains in the NASDAQ and other components of the market, prices fell back into midsession as if the trade bank profits ahead of the Netflix earnings. Another issue that might have undermined stocks today included slightly disappointing BlackRock earnings and news of a proxy fight for a position on Procter & Gamble’s board. In retrospect, stocks failed to get a sustained lift from better-than-expected Chinese data and that might hint at a short-term technically overbought condition.

Hightower Report