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