E-mini S&P, E-mini NQ, Crude Oil, Gold, and Silver (futures) react to a deluge of data, including Retail Sales and Jobless Claims. We give you the levels to manage your data and the markets’ reaction.
Don’t forget to tune into our daily Midday Market Minute
A deluge of data this morning included eroding Retail Sales, with Core m/m hitting the worst levels since December 2023. NY Fed and Philly Fed Manufacturing came in better than expected, improving from dismal levels. Initial Jobless Claims also came in better than expected at 212k versus 219k. The Import and Export Price Index jumped, and this could have been a response to the Red Sea turmoil.
Markets are reacting with the Treasury complex trading higher and major stock indices remaining firm at unchanged, although the E-mini Russell 2000 is higher by nearly 1%. The U.S. Dollar Index is lower by 0.3%, while Gold and Silver attempt to hold a bid. Lastly, Crude Oil has improved from session lows upon the traditional intraday open at 8:00 am CT.
Industrial Production is still due at 8:15 am CT. Traders also brace for Fed speak and updated Atlanta Fed GDPNow.
E-mini S&P (March) / E-mini NQ (March)
S&P, yesterday’s close: Settled at 5018.00, up 46.75
NQ, yesterday’s close: Settled at 17,881.00, up 204.25
Bias: Neutral/Bullish
Resistance: 5028-5033.25***, 5040.25-5044****, 5057.50**, 5063.75-5066.50***, 5091.75***
Pivot: 5016.25-5019.25
Support: 5009**, 5000.50-5003.75**, 4995-4996.25**, 4980.50-4983.25**, 4971.25-4974.75***, 4961.25-4964.25***, 4955-4857.25**, 4941.25-4942.75***, 3936.50-3937.75**, 4929-4931.75***
NQ (March)
Resistance: 17,936-17,972**, 18,007-18,040***, 18,066-18,071**, 18,109-18,122**, 18,366***
Pivot: 17,867-17,881
Support: 17,808-17,847**, 17,730-17,743**, 17,676-17,690***, 17,586-17,598**, 17,542-17,565***, 17,436-17,484****
Crude Oil (March)
Yesterday’s close: Settled at 76.36, down 1.20
Bias: Neutral/Bullish
Resistance: 76.96-77.17**, 77.56-77.65***, 77.90**, 78.43-78.72***, 79.09-79.66****
Pivot: 76.50
Support: 75.49-75.77***, 74.96**, 73.91-74.14***
Gold (April) / Silver (March)
Gold, yesterday’s close: Settled at 2004.3, down 2.9
Silver, yesterday’s close: Settled at 22.387, up 0.233
Bias: Neutral/Bullish
Resistance: 2013.2-2016.7***, 2023.3-2026.5***
Pivot: 2005-2007.4
Support: 2001.8-2003.3**, 1993.3-1997.3***, 1980-1987.9****
Silver (March)
Resistance: 22.26-22.29**, 22.41-22.46***, 22.57-22.64**
Pivot: 22.10
Support: 22.04-22.05***, 21.72-21.75***, 21.26-21.33***