RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Stock futures are trading lower this morning after Thursday’s sell-off in tech sector as traders look past growth stocks in anticipation of a tighter monetary policy next year. Higher rates and the central bank speeding up of their asset purchase tapering has weighed heavily on the value of technology and growth stocks. Through Thursday’s close the Nasdaq composite has fallen 5% in the last month. The Fed is not the only one responding to faster inflation, Thursday also saw rate hikes from Mexico, the U.K. and Norway with the European Central Bank pledging to reduce the rate of bond purchases in the upcoming year.  Europe’s largest fund manager at Amundi stated. “We see a risk of a bearish steepening of the yield curve. This reinforces our negative view on duration and is generally positive for value equites relative to growth equities.”

Support is checking in at 461000 and 457400 with resistance showing 471100 and 477800.

E-mini S&P 500 Mar ’22 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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