RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Equity

Stocks Down Early on Thursday

Posted 11/15/2018 9:57AM CTJeff Yasak

U.S. stock futures were down early today as the wildfires continue to cause the California utilities to drop with PG&E and Edison International leading the way.  Several key UK Cabinet members resigned today because of a lack in confidence in Prime Minister May’s leadership abilities and her Brexit deal. The fear that May could be replaced, and the UK could crash out of the EU without a deal is a risky scenario for the markets.  Jobless claims came in today at 216,000, a bit higher than the 210,000 that some economists had forecasted. Retail sales were up as purchases of building materials and autos surged.  The number increased 0.8% higher than the forecast of 0.5%. Today’s support is 266600 and below at 264500 with the first resistance being 273000 and 277000.

E-Mini S&P 500 Dec ’18 Daily Chart

E-Mini S&P 500 Dec '18 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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