RJO FuturesCast

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Stocks Go As China Goes

Posted 10/25/2019 9:32AM CTJeff Yasak

Global markets were generally mixed coming into Fridays open. Amazon’s 6% premarket decline from their disappointing earnings was putting a damper on the open. On the positive side, word out of China is that they are willing to buy more agricultural products from the U.S. if they cancel existing and forthcoming tariffs on Chinese goods. China’s Foreign Ministry spokesperson, Hua Chunying, hit out at Vice President Mike Pence for his critical comments on Beijing’s human rights record. Further suggesting that Pence should focus on America’s domestic troubles rather than taking aim at them.  According to Bloomberg, “U.S. consumer sentiment paired gains from earlier in October while remaining elevated, suggesting America’s spending will continue to support the economy despite weakness in manufacturing.”

Today’s support is 299600 and 298900 with resistance checking in at 3012 and 302200.

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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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