S&P 500 Down 2nd Day In A Row

19 Apr in Blog, commodity broker, commodity trading, dow jones futures, futures broker, futures trading, Michael Seery, NASDAQ 100 futures, option broker, S&P 500 futures, Seery Futures LLC

Stock Futures-- The S&P 500 today finished slightly lower closing at 1372.50 down almost 6 points for the day reversing earlier strong gains blamed on profit taking and weakness in the commodity sectors while the NASDAQ sold off only 11 points to settle at 2, 683 blamed on Apple Computer down over $20 in the trading session putting pressure on all NASDAQ stocks. The Dow Jones futures in the June contract finished down 55 points to close at 12, 902 also selling off from earlier gains to settle right below the $13,000 level. After the bell several earnings came out including Microsoft which beat the street so trading in the night session is slightly higher going into tomorrow's trading day, while I am bearish the commodity sectors I think the stock market is going to trend sideways for a while because of the fact that it’s had a 30% move since Thanksgiving and the market sometimes needs to consolidate giant moves over the course of time. The bond market today hit an all-time low in yields in the five-year note which scares me a little bit due to the fact that I don't understand why yields continue to go lower while the stock market has basically doubled in the last three years. The problem with yields being so low due to the fact that they might know something that hasn't come out yet remembering these are the futures markets which try to predict what's going to happen down the road and what bond traders are telling you is that there could be some trouble in the stock market this summer just like there has been in the last three consecutive years. However earnings have been very solid with 80% of the companies reporting earnings have beat the street, however the market isn't rallying on the news because it already had rallied in the last three months so basically the good news is in the market already.  If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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