STOCK INDEX FUTURES
U.S. stock index futures are lower breaking a three-day winning streak, as China takes a tougher stance on trade.
Beijing's higher tariffs on U.S. products on a $60 billion target list will go into effect on June 1, which could prompt Washington to go ahead with tariffs on an additional $300 billion worth of Chinese goods.
The 9:00 central time May consumer sentiment index is expected to be 97.5 and the 9:00 April leading indicators is anticipated to be up .3%.
As the U.S. earnings season winds down,according to Reuters data.
My view remains that the global reflation scenario is on track and easier credit conditions from most of the worlds central banks are coming and will be the dominant fundamental that supports stock index futures in the long term. But, first we need to get past the U.S.-China trade hurdle.
The euro currency is steady, although there are concerns about upcoming European parliamentary elections.
The British pound is cross-party Brexit talks between the Conservatives and Labour collapsed. four month low after
The Japanese yen is higher, attracting safe-haven buying due to concerns over trade tensions and impending European elections.
The offshore Chinese yuan weakened to as low as 6.9497 against the dollar, which is its weakest level since November 30.
INTEREST RATE MARKET FUTURES
U.S. Treasury bond futures advanced and remain near a seven week high, as flight to quality buying continues to underpin the interest rate futures market.
Federal Reserve speakers today are Federal Reserve Board of Governors Vice ChairmanRichard Claridaat 9:00, New York Federal Reserve Bank PresidentJohn Williams at 10:15,Richard Claridaagain at 12:40 and John Williams again at 1:00.
Financial futures markets are predicting there is a 77% probability that the Federal Open Market Committee will lower its fed funds rate by 25 basis points or more at its December 11 policy meeting, which compares to 73% yesterday.
SUPPORT AND RESISTANCE
June 19S&P 500
Support 2847.00 Resistance 2885.00
June 19 U.S. Dollar Index
Support 97.530 Resistance 97.830
June 19Euro Currency
Support 1.11780 Resistance 1.12190
June 19Japanese Yen
Support .91040 Resistance .91590
June 19Canadian Dollar
Support .74000 Resistance .74450
June 19Australian Dollar
Support .6871 Resistance .6913
June 19 Thirty Year Treasury Bonds
Support 149^10 Resistance 150^10
Support 1280.0 Resistance 1291.0
Support 2.7200 Resistance 2.7600
July 19 Crude Oil
Support 62.88 Resistance 63.98
Contact Alan for more extensive information on these markets at 312.242.7911 or via email at firstname.lastname@example.org. Thank you.
Would you like to open an account with us? Go to our interactive New Account application at Open An Account. It is fast, saves on postage and its green.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by Archer Daniels Midland Company. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.