E-mini & Micro E-mini S&P 500 futures ended last week at the 2nd highest weekly closing price in history. All 3 major US stock indexes saw remarkable gains last week with the Dow rising a whopping 3.8% and the Nasdaq and S&P seeing 2.5% increases.
This morning US stock markets are mixed after President Trump signed an executive order to extend unemployment benefits for those without jobs due to the Covid-19 pandemic. In Congress, deliberations continue over stimulus negotiations, where speaker Nancy Pelosi urges both sides to reach an agreement.
- Micro E-mini S&P 500 Futures (MES) | 0.0%
- Micro E-mini Nasdaq Futures (MNQ) | -0.96%
- Micro E-mini Dow Futures (MYM) | -0.96%
Earnings season also remains a major focus on Wall Street this week and reports are expected from Marriott International, Nio, Lyft, Cisco Systems and Draft Kings among several other companies.
Considered a safe haven in times of economic turmoil, gold futures (GC) made history last Thursday, closing at an all-time daily high of $2069.40/oz. However, Friday gold fell 2% while stock markets rallied. Up over 1% this morning, gold looks to be bouncing from Friday’s sudden drop.
Risk management should be a top priority when trading unpredictable markets and traders should take appropriate measures to protect investment capital.