RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

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
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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