RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stock futures are pointing higher on today’s open ahead of Thursday’s market close for the celebration of Independence Day. The S&P 500 closed Tuesday at an all-time high, and it looks like the index will climb higher in today’s abbreviated session, the stock market will close at 1 pm ET.  That would make it a third record breaking day in a row. Stocks climbed at the start of this week after President Trump met with China’s Xi Jinping and agreed to a tariff halt and to resume trade talks, this took place in Japan at the G20 summit. The switch to a more relaxed monetary policy is also helping stocks as lower interest rates make it cheaper for companies to take on more debt.

Resistance is checking in today at 299000 and 299500, with support showing around 296800 and 295000.

E-Mini S&P 500 Sep ’19 Daily Chart

E-Mini S&P 500 Sep '19 Daily Chart

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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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