Stocks Tumble as Traders Eye Hawkish FedPosted 10/18/2018 10:04AM CT |
Overnight markets were mostly lower with heavy losses seen in Asia. The U.S. open will start with the jobless claims expecting to show a slight decline from the previous reading of 217,000. A strong labor market and economy will most likely keep the Fed on track for another rate increase this year. Traders will also be looking to the Philly Fed Survey today as soft news can lead to a larger sell-off. There will also be some key earnings after the close with AmEx and PayPal leading the way.
Today’s support is 2796.00 and below at 2769.00 while resistance is 2837.00 and 2851.00.
E-Mini S&P 500 Dec ’18 Daily Chart