AAPL Analysts Have It Wrong, Earnings In-Line With Expectations
MrTopStep | May 02, 2019 02:06AM ET
- In Asia 6 out of 11 markets closed higher: Shanghai Comp +0.52%, Hang Seng -0.65%, Nikkei -0.22%
- In Europe 8 out of 13 markets closed higher: CAC +0.10%, DAX +0.13%, FTSE -0.05%
- Fair Value: S&P +1.77, NASDAQ +12.98, Dow -22.44
- Total Volume: 1.48 million ESM & 245 SPM traded in the pit
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, ADP (NASDAQ:ADP) Employment Report 8:15 AM ET, Treasury Refunding Announcement 8:30 AM ET, PMI Manufacturing Index 9:45 AM ET, ISM Mfg Index 10:00 AM ET, Construction Spending 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, and the Fed Chair Press Conference 2:30 PM ET.
h2 S&P 500 Futures: US Threatened To Walk Out On China Trade Talks/h2Chart courtesy of Overnight bounce off 3D pivot 36 into a high of 45.50, getting another test of the pivot.
During Monday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2945.50, a low of 2935.75, and opened Tuesday’s regular trading hours at 2940.50.
The ES consolidated for the first 90 minutes of trading after the 8:30 CT bell. Then, just after 10:00, a sell program triggered, and the futures broke down to 2926.00 in a matter of just a few minutes. That would remain the low for the day, and the ES proceed to recover.
By 1:00 the futures had traded back through the opening range and printed a new high at 2947.00. Going into the close, the ES printed 2943.75 when the 2:45 cash imbalance reveal showed $283M to buy MOC, then went on to print 2946.50 on the 3:00 cash close, and 2950.50 on the 3:15 futures close.
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In the end, the overall tone of the ES was strong. In terms of the days overall trade, total volume was higher, with 1.5 million futures contracts traded.
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