RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

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
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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