RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stocks were poised to open higher Thursday morning until the retail sales number and Coca-Cola’s earnings were released.  Retail sales number had its largest monthly drop in ten years as the Commerce Department declared a 1.2% drop.  The data was bad enough to reverse investor sentiment which was bullish on Wednesday after President Trump stated that talks with China were going very well and he hoped an agreement would be reached before the March deadline.  Coca-Cola’s pre-market earnings announcement and yearly forecast also fueled the morning sell-off.  Even though they met the analysts fourth quarter earnings estimate their concern for weaker than expected 2019 earnings dropped the share price by 3%.

Key earnings after the close include Applied Materials and NVDIA.  Look for support today 274000 and below at 273100 with resistance at 276000 and 277000.

If you would like to learn more about S&P 500 futures, please check out our free Trading E-Mini S&P 500 Futures Guide.

E-Mini S&P 500 Mar ’19 1 Min Chart

E-Mini S&P 500 Mar '19 1 Min 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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