Equity

Stocks Mixed After Record Close

Posted 10/22/2021 9:45AM CTJeff Yasak

U.S. stock futures are mixed this morning after the S&P 500 recorded a record close on Thursday. That index fell 0.2% on the open while the tech heavy Nasdaq Composite dropped 0.4% and the blue-chip Dow Jones Average was up slightly.  Even with the concerns about inflation and supply-chain problems that are threatening the post-pandemic recovery, stocks have a way to keep rising on strong earning reports.  Nine out of 10 U.S. companies had reported earnings that beat Wall Street expectations. Leading the way was American Express at 3.5%. Thursday also showed that jobless claims numbers improved to their lowest levels since March 2020, falling more than expected as layoffs, firings and work separations slowed in the labor market.

Support today is 452000 and 446650 with resistance showing 455000 and 456500.

E-mini S&P 500 Dec ’21 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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