RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stocks are looking to open todays session mixed after another volatile day that saw tech stocks fall sharply despite another encouraging jobless number.  Facebook, Amazon, and Apple led Thursday’s tumble to the largest down day of the week showing some of the investors concerns as these stocks have been sharply rallying since spring.  The U.S. Department of Labor released data on Thursday showing 860,000 claims filed for the week.  Even though this was slightly higher than the anticipated number it was still below the psychologically important number of 1 million.  On Wednesday the Fed announced it would be keeping interest rates near zero for the better part of three years, this is due to the continuing challenges and risks to the economy from the ongoing pandemic.

Support today is checking in at 331000 and 327500 while resistance is showing 339000 and 342500.

E-mini S&P 500 Oct ’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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