RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Indices

Stocks Go As China Goes

Posted 10/25/2019 9:32AM CT | Jeff Yasak

Global markets were generally mixed coming into Fridays open. Amazon’s 6% premarket decline from their disappointing earnings was putting a damper on the open. On the positive side, word out of China is that they are willing to buy more agricultural products from the U.S. if they cancel existing and forthcoming tariffs on Chinese goods. China’s Foreign Ministry spokesperson, Hua Chunying, hit out at Vice President Mike Pence for his critical comments on Beijing’s human rights record. Further suggesting that Pence should focus on America’s domestic troubles rather than taking aim at them.  According to Bloomberg, “U.S. consumer sentiment paired gains from earlier in October while remaining elevated, suggesting America’s spending will continue to support the economy despite weakness in manufacturing.”

Today’s support is 299600 and 298900 with resistance checking in at 3012 and 302200.

888-861-1656312-373-4966Series 3 Licensed

Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
Read More