At-a-Glance
Today’s Top Highlights
Today brought a lot of significant data all the way through and after the close with the Fed meeting and major earnings reports. The Fed made the decision to cut interest rates by 25 basis points as suspected by the CME Fed Watch Tool, and the S&P and Nasdaq were able to finish the day slightly higher while the Russell traded nearly 1% lower on the day. The precious metals saw a mix across the board with Gold and Silver both closing the day slightly lower while Copper was slightly higher.
The bigger news that came from the day was the change in the sentiment for the December Fed meeting, where there was a near 90% probability of another 25-basis point cut, and now that probability has dropped significantly to near 65% after Powell’s remarks on the Fed’s future plans. Along with that, Meta, Alphabet and Microsoft all reported earnings after the bell and both Alphabet and Microsoft saw a beat on EPS and Revenue while Meta only saw a beat on revenue with an in line EPS. Both the S&P and Nasdaq fell slightly on the news and will now be looking for more key earnings tomorrow with Apple and Amazon to wrap up the week.
Explore Additional Market Commentary
Traders Resources
The information in the market commentaries have been obtained from sources believed to be reliable, but we do not guarantee its accuracy and expressly disclaim all liability. Neither the information nor any opinions expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts. The information on this site compiled by CME Group is for general purposes only. All information and data herein is provided as-is. Additionally, all examples on this site are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. CME Group assumes no responsibility for any errors or omissions. CME Group, its affiliates and any third party information and content providers expressly disclaim all liability with respect to the information and data contained herein including without limitation, any liability with respect to the accuracy or completeness of any data. You use the data herein solely at your own risk. All data and information provided herein is not intended for trading purposes or for trading advice. All matters pertaining to rules and specifications herein are made subject to and superseded by official CME, CBOT, NYMEX and COMEX rules. Current rules should be consulted in all cases concerning contract specifications.
Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. Due to the leveraged nature of futures trading and swaps trading, it is possible to lose more than the amount deposited in a position. Therefore, traders should not deposit more funds than they can afford to lose without negatively affecting their lifestyles. A trader cannot expect to profit on each trade, and should only devote a small amount of their available funds to each trade. All references to options refer to options on futures.
Past performance is not necessarily indicative of future performance.
CME Group, the Globe Logo, Chicago Mercantile Exchange, Globex and CME are trademarks of Chicago Mercantile Exchange Inc. CBOT is the trademark of the Board of Trade of the City of Chicago, Inc. NYMEX is the trademark of the New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other marks are the property of their respective owners. Each of Chicago Mercantile Exchange Inc. (ARBN 103 432 391), The Board of Trade of the City of Chicago Inc (ARBN 110 594 459), the New York Mercantile Exchange Inc (ARBN 113 929 436) and Commodity Exchange, Inc. (ARBN 622 016 193) is a registered foreign company in Australia and holds an Australian market licence.
This site does not constitute a prospectus, product disclosure statement or legal advice, nor is it a recommendation to buy, sell or retain any specific investment or to utilise or refrain from utilising any particular service. Readers should consult their legal advisors for legal advice in connection with the matters covered on this site.
