Futures Settle at Post-Tariff Highs, Eyes on Core PCE and Big Tech Earnings
Spotify falls after earnings. Bill Baruch joins CNBC's Halftime to break down why he's still in.
E-mini S&P (June) / E-mini NQ (June)
S&P, yesterday's close: Settled at 5583.75, up 30.75
NQ, yesterday's close: Settled at 19,642.00, up 114.00
E-mini S&P and E-mini NQ futures settled yesterday at the highest level since the April 2 nd tariff announcement. The White House's softer tone on trade was furthered when President Trump signed an order to lessen the impact of auto tariffs. Commerce Secretary Lutnick also noted a trade deal has been reached with one nation, but we await further details. The indices have been buoyant, finding additional tailwinds from strong earnings, but this will be tested today. CAT reported a miss on earnings and revenue but kept its full-year outlook, the stock is +2% premarket. MSFT and META report after the bell.
The first look at jobs is due with the private ADP survey at 7:15 am CT, followed by the Fed's preferred inflation indicator, the Core PCE Index, at 7:30 am CT.
E-mini S&P and E-mini NQ futures finished strongly yesterday but have not been able to decisively pierce strong resistance. For the E-mini S&P, this is major three-star resistance at 5578.75-5584.50. As for the E-mini NQ, it has closed in on its April 2 nd gap settlement, marking a significant area of overhead resistance. Upon a pullback, we have first and second key support aligned with yesterday's midday ranges. However, we do not want to see a violation of major three-star support at…
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