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A broad based US sell-off may be significant- check out the S+P 500 futures this morning

The falls across the US stock markets on Friday was a clear cut reaction to the much better than expected US December jobs report. That saw the Dow Jones hand back 1.63%. The Nasdaq 100 lost 1.57% and the S+P 500 closed 1.54% lower. So, as you can see, it was widespread move out of stocks and bonds too, as US yields jumped on the jobs news. As noted here at the time, it was the dollar that took full advantage (except versus the Yen) of that dynamic. Earlier last week, and the week before the rejection of the 6k level in the S+P 500 was noted here and also warned us of a shift in trend. Well, on Friday the S+P 500 fell to a low at 5,807.78. The index had earlier opened at 5,890.35 and that was the very top of the shop on Friday. The index later closed at 5,827.78, with a loss of 91.21 points on the day and earlier this morning, the S+P futures were pricing an opening very close to 5,790. They are off that low now, but still pricing the opening in the red this morning. There will be more to add on this later. The index is right now priced to reopen around 5,807

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