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E-mini Futures Reach All-Time Highs on Trade Deal Optimism

china phase one markets eminis futures dow s&p 500 micro e-mini futures

Buoyed by a phase one US-China trade deal and positive earnings reports from Q4 2019, E-mini index futures continue pushing to new highs. After a record close yesterday, Dow and S&P 500 futures are looking at another record day based on this morning’s action.

The Dow Jones Industrial Average closed above 29,000 for the first time Wednesday and the S&P also closed at an all-time high. This came after President Trump met with Chinese Vice Premier Liu to sign the highly anticipated phase one trade pact, in which China agreed to purchase $200 billion worth of American products.

Also bolstering market confidence are strong earnings from last quarter. Morgan Stanley (MS) stood out from the crowd this morning reporting better-than-expected quarterly profits. Also beating estimates were BlackRock Inc (BLK), UnitedHealth Group (UNH), and Citigroup (C).

ES MES SP500 S&P 500 futures eminis micro

The chart above, created for FREE using the NinjaTrader platform, displays price action in Micro E-mini S&P 500 futures (MES) since the start of Q4, 2019. Clearly in a bullish trend, a volume profile has been added to help identify possible support levels.

As earnings season continues and trade negotiations with China push forward, markets are sure to provide ample trading opportunities for speculators. Traders should always be aware of the risks involved and take appropriate measures to protect capital whenever possible.

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