E-mini S&P Hits Fresh Record Ahead of PPI as ORCL Forecast Sparks Rally
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E-mini S&P (September) / E-mini NQ (September)
S&P, yesterday’s close: Settled at 6521.75, up 15.75
NQ, yesterday’s close: Settled at 23,874.00, up 74.25
E-mini S&P futures set a fresh record high overnight, on the heels of ORCL’s massive forecast. The stock is up more than 30% after it said cloud infrastructure revenue will go from $18 billion this fiscal year to as much as $144 billion in 2030. Ahead of that earnings report, E-mini S&P and E-mini NQ futures finished strongly, bouncing back from a mid-session lull after the BLS benchmark revisions removed 911k jobs from April 2024 through March 2025. With a deteriorating job situation, the stage is set for today’s August PPI report and tomorrow’s CPI. Due at 7:30 am CT, the expectations are for both headline and Core +0.3% m/m, a slower increase than July’s scorching hot +0.9% for each.
E-mini S&P futures exceeded 6541.75 this morning, a level that traded on the opening bell Friday after Nonfarm Payrolls, before reversing sharply and trading to a low of 6452. Essentially, the E-mini S&P and E-mini NQ have grinded steadily higher since trading that low at 10:00 am CT on Friday. The gap from Friday’s settlement at 6489.75 was covered in the E-mini S&P yesterday before levitating, but the E-mini NQ’s remains at 23,684; these levels still stand, but now well below the market. First key support comes in today at…
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