Tariffs and Tech Troubles Weigh on Markets

Morning Express

/ by Blue Line Futures

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E-mini S&P (June) / E-mini NQ (June)

S&P, yesterday’s close: Settled at 5759.50, down 67.00

NQ, yesterday’s close: Settled at 20,116.50, down 372.00

After a three-day rebound, E-mini S&P and E-mini NQ futures were slammed. NVDA led to the downside after Chinese regulators tightened energy efficiency rules. The company is caught in geopolitical crosshairs as China is encouraging companies to use chips from domestic suppliers like Huawei. NVDA sells its less-advanced H20 chip to China in order to meet U.S. restrictions and is likely to change the design China’s new standards. Roughly $17 billion of NVDA’s $130.5 billion in revenue comes from China.

President Trump added to the market’s worries by implementing a 25% tariff on auto imports, to take effect April 3rd. He also commented that harsher tariffs would be imposed if the EU and Canada team up. From additional comments that “reciprocal tariffs will be extremely lenient” and “people will be pleasantly surprised on April 2nd,” there is a view that he would rather work with countries, water-down, and target the tariffs, than blanket it and do unneeded harm.

E-mini S&P and E-mini NQ futures neared closing the gap from Friday’s settlement, major three-star support at 5718.25-5723.25 in the E-mini S&P and 19,934-19,974 in the E-mini NQ. If this market is to find some stability, it starts with holding out above our Pivot and point of balance at…

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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