Russell 2000 E-Mini Sep '19 (QRU19)Get Barchart Premier
Russell 2000 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is up +22.45 (+0.77%), the Dow Jones Industrials Index ($DOWI) is up +238.00 (+0.91%), and the Nasdaq 100 Index ($IUXX) is up +75.10 (+0.98%). U.S. stock indexes are higher today as solid retailer sales and earnings have sparked optimism in the U.S. economy. Target is surging more than +18% today and posted a new record high to lead U.S. retailer stocks higher after it reported that Q2 comparable same-store-sales rose by +3.4%, better than consensus of +3%, and also raised its full-year adjusted EPS estimate to $5.90-$6.20 from a prior view of $5.75-$6.05. Also, Lowe's is up +10% today at a 3-month high after it reported Q2 comparable same-store-sales rose +2.3%, stronger than consensus of +1.7%. Energy stocks are also higher this morning with Oct WTI crude oil up +0.35% at a 1-week high. Oil prices rallied today after weekly EIA crude inventories today fell by -2.73 million bbl, which was a larger drop than expectations of -1.5 million bbl. Today's U.S. economic data was also supportive for stocks after July existing home sales rose +2.5% to a 5-month high of 5.42 million, slightly stronger than expectations of +2.5% to 5.40 million. The VIX S&P 500 Volatility Index ($VIX) today tumbled to a 2-1/2 week low of 15.51% and is currently down -1.54 to 15.96%. The VIX is well below last Thursday's 2-week high of 24.10% and the early-Aug 7-1/2 month high of 24.81%.
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