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NASDAQ Futures Supported by Earnings Reports


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STOCK INDEX FUTURES

U.S. stock index futures are higher.

NASDAQ futures advanced more than 100 points after a series of better than expected corporate earnings results from major technology firms.

June personal income fell 1.1% when down 1.0% was expected.

The 8:45 central time July Chicago PMI index is anticipated to be 42.8.

The 9:00 July consumer sentiment index is estimated to be 73.2.

Stock index futures have upside momentum.

CURRENCY FUTURES

The U.S. dollar index fell to a new two-year low.

Some of the bears on the greenback speculated that the Federal Reserve might loosen its approach to inflation, which is something analysts believe could happen at its next policy meeting in September.

Consumer price inflation ticked up in the euro zone in July. The European Union's statistics agency Eurostat said the first estimate of consumer prices was 0.4% higher in July compared with same month a year ago and is up from the 0.3% increase that was registered in June.

The euro zone economy contracted at the fastest pace ever recorded during the second quarter. Across the 19 countries that use the euro as their currency, the gross domestic product fell 12.1% in the second quarter. Economists had expected a 11.3% contraction.

Higher crude oil prices supported the commodity currencies, the Canadian dollar and the Australian dollar.

INTEREST RATE MARKET FUTURES

Futures are steady to higher on the belief that the Federal Reserve will keep interest rates low for a longer period of time.

Federal Reserve Chairman Jerome Powells comments Wednesday after theFederal Open Market Committeemeeting indicated the Fed will maintain its accommodative monetary policy stance.

The next Federal Open Market Committee meeting is scheduled for September 16. Financial futures markets are predicting there is a 92% probability that the FOMC will maintain its fed funds target rate at zero to 25 basis points.

Contact Alan for more extensive information on these markets at 312.242.7911 or via email at alan.bush@admis.com. Thank you.

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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 ADM. 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.



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About the author


Alan Bush has been a commodity analyst since 1976 focusing on the fundamental and technical aspects of stock index, interest rate and foreign currency markets. He has authored several articles for Stocks Futures and Options magazine and produced the “Futures Tech Focus” program, which is a technically based market outlook.

Alan served on the faculty of Oakton College as instructor of a course entitled, “Principles of Technical Analysis.” He has been interviewed on many national television programs, appearing on the Nightly Business Report, CNBC, CNN Moneyline, Reuters Television and Web FN. In addition, he has been frequently quoted in The Wall Street Journal, USA Today, The Bond Buyer and the Chicago Tribune and has been regularly interviewed on Chicago’s WMAQ radio business reports.

Alan can be reached at (312) 242-7911, or via email at alan.bush@admis.com.

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