S&P 500 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is down -0.78%, the Dow Jones Industrials Index ($DOWI) is down -1.14%, and the Nasdaq 100 Index ($IUXX) is down -0.29%.
U.S. stock indexes this morning are moderately lower, with the S&P 500 dropping to a 2-week low and the Dow Jones Industrials falling to a 2-1/4 month low. Hawkish comments from St. Louis Fed President Bullard today heightened concerns the Fed may be closer to tapering QE than earlier thought. Losses in the Nasdaq 100 were contained stock fund managers continue to rotate out of cyclical stocks and into technology stocks. Stock volatility might be exacerbated by today’s quadruple expiration of stock index futures and options.
Bank stocks are moving lower today and are weighing on the overall market. Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), and Fifth Third Bancorp (FITB) are all down more than -2% today.
Intel (INTC) is down more than -3% today... Read more