The overnight stock markets were generally mixed with China and the U.S. coming in higher on reports of an arrangement that China will purchase 2 million tonnes of U.S. soybeans. This arrangement helps ease some of the tensions from the U.S./China trade standoff. Treasuries and the dollar edged higher as U.S. jobless claims came in below estimates. The claims dropped to 206,000 while Reuters had forecasted 225,000, this is near a 49-year low.  European stocks rallied slightly after UK Prime Minister May won a no-confidence vote and Italian Prime Minister Conte put forward a cut in the deficit target, both should ease tensions in the EU.  However, May did not come out unscathed as the Wednesday vote had one third of lawmakers voting to remove her.  After hour earnings are highlighted by Adobe and Costco.

Support today is 262000 and 260000 with resistance coming in at 267500 and 271000.

E-Mini S&P 500 Dec ’18 Daily Chart

E-Mini S&P 500 Dec '18 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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