U.S. stock futures were slightly higher Friday as the most recent comments from the Chinese government raised hopes of a deal after some inconsistent news pulled the market off its record highs. Earlier in the week there were reports that suggested that there could be a delay in the truce into next year, but Beijing has stated that it is willing to work out a deal “on the basis of mutual respect and equality”. Dec. 15th is a date to watch as this is when U.S. tariffs would kick in on Chinese goods that include holiday items such as Christmas decorations and electronic goods. Scott Brown, a chief economist at Raymond James, had stated “It’s less likely the deal will be signed by the end of the year, but you may see the Dec.15th tariffs postponed.”

Later this morning we will get a reading on the health of the consumer as the November’s consumer sentiment data will be released at 10:00 a.m. According to the University of Michigan, October’s number came in at 95.5. Higher readings indicate that consumers are more confident about current and future economic conditions.

Support today is checking in around 309200 and 3080 with resistance showing 311500 and 312700.

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Jeff Yasak

Senior Market Strategist
Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.
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