News of note & exclusive market commentary
After Jerome Powell’s comments following the Jackson Hole meetings in late August, the upcoming Augusts Jobs Report carries less weight than normal. Once the Federal Reserve announced it had little intention of tapering earlier than anticipated, the market moved higher as the primary fear had been set aside for now. Read More
Launched just over a week ago, CME Group’s Micro Treasury Yield futures have traded over 30,000 contracts. Read More
Since launching a month ago, over 1 million Micro Crude Oil futures (MCL) contracts have been traded. Read More
ADP reported private sector employment increased by 330,00 jobs in July, well below estimates of roughly 700,000. The consensus estimate for Friday’s report is 900,000 new jobs. Read More
On the afternoon of June 16th, Fed chair Jerome Powell will announce the decisions from the Federal Open Market Committee meeting this week. Nearly all market participants expect monetary policy to remain unchanged, along with the current bond-buying program. The market will continue to see zero interest rates with 120 billion in bond purchases each month for the time being. Read More
Micro Bitcoin futures (MBT) have traded over 650,000 contracts in the first month since being launched with an average daily volume exceeding 28,000 contracts. MBT futures are one of the most successful product launches in the futures industry and continue to attract new traders.Read More
Led by the tech-heavy Nasdaq, US stock indexes rose Wednesday after a tumultuous election night. E-mini Nasdaq futures soared more than 5% during Wednesday’s session, followed by the Dow and S&P 500, on pace for its best day in over 6 months.
And all the while the US Presidential election is not only still too early to call, but there is uncertainty as to when a winner will be determined. Read More
Following yesterday’s sharp drop, both the Dow and S&P 500 continued to tumble today while Nasdaq futures rose nearly a full point.
Yesterday the Dow Jones Industrial Index saw its worst day since September 3rd and the S&P had its worst day in a month. Concerns over a surge in coronavirus infections as well as the unlikelihood of a stimulus agreement prior to next week’s US Presidential election sent equities lower in all 3 indexes. Read More
Stock futures sank Friday morning as investors digested news of President Donald Trump testing positive for COVID-19. Early Friday morning, the president revealed via Twitter that he and the first lady had contracted the virus.
The announcement has caused a ripple in markets so far sinking both US stock futures and commodities like gold and oil as well. This news brings the coronavirus back into the forefront for investors, challenging an opposing narrative of recovery and reopening.Read More
The benchmark S&P 500 index closed at a record high on Tuesday, marking a complete recovery from the coronavirus selloff which began in late February. The Nasdaq, which was the first of the 3 major indexes to fully recover from February’s highs, also closed at an all-time high Tuesday.
A recent rally in tech-related companies has helped fuel the recovery of the S&P 500, accompanied by trillions of dollars in economic support including stimulus payments.Read More