Nasdaq 100 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Monday closed up +0.24%, the Dow Jones Industrials Index ($DOWI) closed up +0.24%, and the Nasdaq 100 Index ($IUXX) closed up +0.09%. All three indexes posted new all-time highs. The stock market saw support from optimism that the mega-cap technology stocks will report strong Q2 earnings results this week. Apple, Alphabet, Amazon.com, Facebook, and Tesla all report Q2 earnings this week. Stocks also garnered support from optimism that Fed Chair Powell will indicate it's too early to taper QE and the Fed will maintain its stimulus measures after Wednesday’s conclusion of the 2-day FOMC meeting.
Sep T-notes (ZNU21) on Monday closed up +2 ticks, and the 10-year T-note yield was unchanged at 1.276%. Weaker-than-expected U.S. economic data on Monday gave T-notes a boost along with concern that the worsening of the pandemic in the U.S. will lead to restrictions that undercut economic growth. Gains in T-notes on Monday were limited after the S&P 500... Read more