E-mini S&P (December) and E-mini NQ (December) had specific closes yesterday. S&P settled at 5871.00, up 9.50. NQ settled at 20,690.50, up 199.50.
Earnings and economic data are crucial. Alphabet crushed estimates and is +6% before the bell due to strong cloud business growth and controlled spending. AMD is -8% after a disappointing Q4 outlook. Eli Lilly missed estimates and slashed profit guidance this morning, being -10% premarket. AbbVie is +1.5% after topping estimates and Caterpillar is -3% after missing top and bottom. (Blue Line Capital owns GOOG and ABBV).
In economic news, the private ADP Payrolls survey, a precursor to Friday’s Nonfarm Payroll report, beat expectations at 233k versus 110k expected and last month was revised from 143k to 159k. Q3 GDP first look was light at 2.8% versus 3.0%. Core PCE Prices for Q3 were firmer at 2.2% versus 2.1%, but lower than Q2’s 2.8%, and PCE Prices were 1.5% versus 2.7% expected. Pending Home Sales are due at 9:00 am CT.
Yesterday, after a swift spike down on the opening bell, price action in E-mini S&P and E-mini NQ futures rose steadily. Tech was the winner and the E-mini NQ traded above resistance but settled right at the mark.
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