Equity

Stocks Climb Into the 4th of July

Posted 07/03/2019 9:01AM CTJeff Yasak

U.S. stock futures are pointing higher on today’s open ahead of Thursday’s market close for the celebration of Independence Day. The S&P 500 closed Tuesday at an all-time high, and it looks like the index will climb higher in today’s abbreviated session, the stock market will close at 1 pm ET.  That would make it a third record breaking day in a row. Stocks climbed at the start of this week after President Trump met with China’s Xi Jinping and agreed to a tariff halt and to resume trade talks, this took place in Japan at the G20 summit. The switch to a more relaxed monetary policy is also helping stocks as lower interest rates make it cheaper for companies to take on more debt.

Resistance is checking in today at 299000 and 299500, with support showing around 296800 and 295000.

E-Mini S&P 500 Sep ’19 Daily Chart

E-Mini S&P 500 Sep '19 Daily Chart

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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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