Futures

Futures, Global Markets Hit Record High Amid Unstoppable Trader Euphoria

Global stocks and US equity futures rose to a fresh record high on – what else – optimism that a firehose of fiscal spending will revive economic growth and bolster corporate earnings, which coupled with more pandemic relief and speedy vaccine rollouts under the new Biden administration would lead to continued risk upside. Investors also…

Futures Jump Ahead Of Yellen Hearing, Hong Kong Stocks Soar

Global markets and S&P futures rebounded overnight, continuing their advance during Monday’s MLK holiday and recouping all of their Friday losses, tracking gains for shares in most of Europe and Asia on the back of frenzied buying Hong Kong shares by mainland China investors, as traders awaited a speech by Treasury Secretary nominee Janet Yellen…

Global Markets, S&P Futures Flat With US Markets Closed For MLK Holiday

US cash markets may be closed for Monday’s MLK holiday, but US equity futures are humming and at last check they were unchanged from Friday’s close at 3, 762 after earlier dropping as much as 20 points. “Markets needed a breather or even a pull back to justify reflationary expectations,” said Ben Emons, managing director of…

S&P Futures Hit Record High Above 3,800 Ahead Of Dismal Payrolls Report

While there is broad consensus that today’s payrolls report will be ugly, with economists expecting a sharp slowdown in December job growth in the U.S. due to the second wave of covid lockdowns and a quarter of those surveyed (including Goldman) predicting a negative print when the data is published at 8:30 a.m. ET, that…

Futures Hit New Record High After House Approves $2,000 Stimulus Checks

US index futures and global stocks rose for a fourth straight day, hitting new all time highs on Tuesday after the Democrat-controlled House sided with Trump and passed a bill boosting stimulus payments for most Americans from $600 to $2,000 (which will almost certainly die in the Republican-controlled senate). The dollar dropped while oil and…

Small "Santa Rally" As Futures Rebound After Traders Shrug Off Trump Veto Threat

After initially tumbling after President Trump shocked the establishment and traders with a surprise tirade against the $900 billion relief package, calling it a “disgrace” and demanded stimulus checks be raised to $2,000 from $600 while demanding that “wasteful and unnecessary items” be eliminated, futures staged a full rebound as analysts said investors shouldn’t worry…

Futures Fly To All-Time High On Quad Witching Day

Normally, “quad-witching” option expiration days tend to be volatile affairs resulting in bursts of volatility and occasionally aggravated downside for risk assets. Today’s quad-witch, however, will not be one of those days because while some 45% of outstanding SPX option open interest – totaling more than $2.5tln of notional – expires, the concentration of strikes…

Futures Jump As Vaccine Optimism, Stimulus Hopes Return

Yesterday morning, after the early swoon, we said that as part of a gloriously repeating pattern, the drawdown will promptly reverse and on Tuesday morning things will be back to normal with the vaccine, stimulus narrative regaining the upper ground. This morning’s vaccine optimism has been replaced with shutdown pessimism. This will reverse tomorrow morning…

Water Futures Begin Trading on the CME

By Peter A. Kirby According to a slew of mainstream media outlets, water futures have begun trading on the Chicago Mercantile Exchange (CME). Some might say that this is a great triumph for free markets everywhere. But, does everything need to be traded as a financial instrument? Free markets are great, but when we consider…

S&P Futures Surge, Nasdaq Plunges On “Game-Changer” Moderna Covid Vaccine

Last night, when discussing the euphoric surge in Sunday markets, we said that the move is on expectations that the “Moderna covid vaccine may hit as early as tomorrow, and a favorable outcome would have a similar result to last Monday’s Pfizer surprise which sent the S&P as high as 3,668 before fading much of…

Futures Rollercoaster As Virus Resurgence Spooks Traders

In a rollercoaster overnight session, futures dropped as much as 1% in early trading, before paring all losses only to slide once again while Nasdaq 100 contracts swung between modest losses and gains. At last check, the Emini was down 0.4% to 3,555 as coronavirus infections surged and investors weighed the timeline of the roll-out…

Futures, Yields Tumble With Trump Set To Win Florida

Recall all our previews said that Florida is a key state for Trump: without it, it was pretty much game over for the president. Well, it appears that despite galatic-szied brains such as Nate Silver giving Trump just 31% odds of winning Florida… … Trump appears set to win Florida according to both PredictIt… ……

Schizophrenic Paradox Emerges In S&P, 30Y Bond Futures

An apparent paradox is emerging in the world of futures positioning. According to the latest CFTC Commitment of Traders data, after being stuck in a tight range for much of 2020, speculative investors boosted bullish wagers on S&P emini futures to the highest level in almost two years, a that most professional investors saw the…