All 4 Benchmarks Up Nearly 1% Ahead Of The Opening Bell

Deck
Today’s economic calendar is rather quiet: we look to New York Fed President John Williams speaking at 1:00 p.m. CT
Exxon is grabbing headlines with a beat, coming on the heels of merger talks with Chevron and tailwinds from higher Crude prices
Amazon and Alphabet headline a deluge after the bell

Anna Carpenter
Tue, 02/02/2021 – 10:58

Authors
Blue Line Futures

Publication Date

Image
Stock Market Update for Traders

Monday’s Close

E-mini S&P 500 (March): Settled 3765.75, 60.50

E-mini Nasdaq-100 (March): Settled at 13,236.50, up 325.25

U.S. benchmarks steadied the ship yesterday and continued their rebound overnight; all 4 were up nearly 1% ahead of the opening bell. Today’s economic calendar is rather quiet: we look to New York Fed President John Williams speaking at 1:00 p.m. CT. 

The U.S. Dollar Index is trading at 2-month highs and finding tailwinds today from an underwhelming Eurozone Q4 GDP. However, the Chinese Yuan against the U.S. Dollar is paring some of yesterday’s losses. U.S. Dollar strength isn’t the only headwind to risk assets: the Treasury market is lower, as well. The 10-year yield is back above 1.10%, and although this isn’t a true headwind right here and right now, a decisive move through 1.15-1.20% will raise caution.

On the earnings front, Exxon is grabbing headlines with a beat. This comes on the heels of merger talks with Chevron and tailwinds from higher Crude prices. The stock is up 2% despite a $20.1 billion loss in the Q4. Others to report in the Energy space were BP and Marathon Petroleum: BP was down 4% after widely missing estimates. On a brighter note, Marathon Petroleum was up 2.5% after topping revenue expectations. 

Additionally, UPS was up nearly 5% after crushing estimates and Pfizer is edging green after missing income but beating on revenue (Blue Line Capital owns MPC, UPS, and PFE). Amazon and Alphabet headline a deluge after the bell.

Interested in our technical perspective? Please sign up to have Blue Line Futures technical outlook, actionable bias, and proprietary levels emailed to you each day.

 

 

Section
Market Analysis

Topic
Index

Tags
Index
S&P 500 Index
S&P 500
S&P 500 futures
E-mini S&P
E-mini Nasdaq 100
FOMC
FOMC minutes
Nasdaq 100
equities
S&P E-mini
stocks
Yield curve

Site
FuturesMag

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.