Tech Stocks In The S&P Gain 1.8% Last Week
MrTopStep | Sep 18, 2018 01:33AM ET
- In Asia 7 out of 11 markets closed lower: Shanghai Comp -1.11%, Hang Seng -1.30%, Nikkei +1.20%
- In Europe 9 out of 13 markets are trading higher: CAC 0.01%, DAX -0.28%, FTSE -0.09%
- Fair Value: S&P +5.84, NASDAQ +30.32, Dow +33.62
- Total Volume: 1.36mil ESZ & 4,010 SPZ traded in the pit
Today’s economic calendar includes the 3-Yr Note Settlement, the 10-Yr Note Settlement, the 30-Yr Bond Settlement, and Empire State Mfg Survey at 8:30 AM ET.
h2 S&P 500 Futures: Choppy Trading Ends The Week On A Positive Note/h2After trading in a ten handle range overnight, the S&P 500 futures opened Friday’s regular session at 2907.00, up +1.75 handles, in the December contract. The initial move after the bell was a rally up to a 2909.25 first hour high, followed by a selloff down to a 2901.75 early morning low.
After grinding up throughout the morning to a session high of 2909.50 at 10:45, the futures sold off abruptly just after 11:00 when news hit that Trump was prepared to proceed with tariffs on Chinese goods that had already been planned. The ES traded down to 2898.75, then bounced to 2902.00, before trading to a session low of 2896.75 just after the noon hour.
The afternoon saw a climb higher as the MiM grew in what ended up being $1.6 Billion cash imbalance to the buy side. The ESZ traded up to 2907.75 in the final minutes, printed 2905.75 at 3:00, and then settled the day at 2906.50, up +1.25 handles, or +0.04%.
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