Morning Futures Briefing

U.S. Stock Futures Sporting Slight Gains; Asia & Europe Markets Mixed

U.S. stock futures are generally bullish this morning as the market looks forward to the Dallas Fed Manufacturing Survey along with word out of Washington on Biden’s tax and spending bill.

S&P 500 futures, up .07%, are breaking above previous all-time high levels. Dow futures, up .03%, have broken into all-time high levels. Nasdaq futures, up .31%, are testing September resistance levels as new support. Russell 2000 futures, down .08%, are failing to break above September’s resistance.

Overnight, Asia markets were mixed with Hong Kong’s HIS Index up .02%, China’s Shanghai up .76%, and Toyo’s Nikkei down .71%.

European Markets are mixed as well with London’s FTSE Index up .39%, Germany’s DAX up .21%, and France’s CAC down .18%.

Gold futures are breaking above a mid-October resistance level and trading up .36%.

Copper may have found support following a four-day sell-off. This morning’s .64% gap up has created a bullish harami.

10-year Treasury futures, off a slight .02%, are continuing their downtrend as interest rates edge higher.

The VIX, off .27%, is indicating a potential increase in investor confidence today.

After a two-day pause and pullback, bitcoin is heading higher this morning, up over 3.5%, and completing a bullish bull flag technical pattern.

Natural gas futures are completing a bullish fry pan technical bottom this morning with a gap up over 6%. Oil futures are up 1.12%.

Wheat futures, up 1.12%, are breaking above 757.75 this morning—a key early October resistance level.

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