RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

The U.S. stock markets are mixed this morning with a dip in the Dow and a Nasdaq rally.

The markets opened today with the Dow taking a break after it traded above 30,000 on Tuesday and the Nasdaq climbing above 12,000.  The market reacted to government numbers released today before the Holiday.  The Department of Labor reported jobless claims had risen to 778,000 opposed to an economic prediction of 730,000. The Commerce Department also released their own data with numbers on GDP and durable goods.  GDP growth was stable with 33.1% annualized rate, the deepest since the government started keeping this data in 1947. Durable goods orders were higher than expected up 1.3%% in October which was below September’s 2.1% but well above the .09% predicted number.  New home sales fell by 0.3% to an adjusted rate of 999,000 units last month, although lower than last month it still beat expectations by 27,000.

Have a healthy and safe Thanksgiving.

Support is checking in today at 360000 and 355500 with resistance at 366500 and 368500.

E-mini S&P 500 Dec ’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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