Market Overview

Friday's Market Minute: Fireworks In The Market

Friday's Market Minute: Fireworks In The Market

It’s been a short but memorable holiday trading week, with markets gapping up after Sunday’s open on reports of positive developments in the U.S./China Trade War and continuing to drift up during the week. Three of the four major equity index futures notched new all-time highs, including a close above the 3,000 level for S&P futures. Small-caps are once again the laggard of the group, with Russell 2000 futures actually losing about 1% since July 1 as of this morning’s early trading.

There are other signs that perhaps not everyone is preparing for more exuberance in the market. The VIX is up almost 5% in the premarket today and gold futures are still near five-year highs, indicating some traders still haven’t embraced the risk-on mindset. Additionally, this morning’s Jobs Report showed a gain of 224,000 month-over-month; a number that trounced estimates of 165,000 but also seems to have prompted a selloff in equities as unemployment ticked up to 3.7% and average hourly earnings missed expectations.

Many traders likely will be watching the move in treasuries today and wondering whether the data helps or hurts the case for a rate cut from the Fed.

Information from TDA is not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade.

Image Sourced From Pixabay


Related Articles

View Comments and Join the Discussion!

Posted-In: Jobs Report TDAmeritradeNews Futures Small Cap Federal Reserve Markets General