RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Equity

Stocks Down This Morning

Posted 07/10/2020 8:55AM CTJeff Yasak

Stock futures were pointed lower this morning as several states in the U.S. posted new highs in Covid-19 related outbreaks and deaths. Worldwide, Hong Kong will be reclosing schools and Mexico has also seen new record of recorded cases. Keeping the market from dropping further was some positive news from the pharmaceutical sector regarding positive data on their coronavirus treatments. Gilead Sciences said its coronavirus treatment candidate, remdesivir, “was associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality compared with standard of care.” This news sent Gilead share up 2%.

Support today is checking in at 301000 and 296500 while resistance is showing 307500 and again at 309500.

E-mini S&P 500 Sep ’20 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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