E-mini S&P 500 Futures(DEC3) Forum

This is where the major average stand after November's rally and ahead of the start of the final trading month of 2023.
Dow Jones Industrial Average:
Up 1.6% for the week and headed for fifth straight winning week for the first time since November 2021
Gained 8.8% in November for its best month since October 2022
Up 8.5% for the year
Sits 2.7% off of its record high
S&P 500:
Up 0.2% for the week
Jumped 8.9% for the month to post its best monthly pe...

The Santa Claus rally refers to a period of sustained stock market growth that typically takes place around the Christmas holiday on Dec. 25, with estimates suggesting that the rally occurs in the week leading up to Christmas or from Christmas Day through Jan. 2. The rally has been attributed to various theories such as end-of-year tax considerations, a general feeling of optimism and seasonal happiness among in...

At an important turning point for China's economy and capital market, after decades of efforts to eliminate absolute poverty, regulatory priorities have been adjusted to pay more attention to sustainability, social equity, data security, and autonomy and control.
Under the new logical paradigm, China seems to be trying to allocate economic benefits to labor.The upgrade of restrictions on financial technology, big...

Oil prices began to retreat on Thursday afternoon as it became clear that OPEC+ members were agreeing to voluntary cuts beginning in the new year, and that those cuts would be announced only by each member country instead of by the group as a whole.
- WTI crude futures fell after OPEC+ concluded its Ministerial Meeting.
- Immediately following the meeting’s kickoff, it was also announced that Brazil would join the OPEC+ group ef...

Initial jobs claims prior week 209K revised to 211K
initial jobs claims vs 220K estimate.
4-week moving average of initial jobs claims to 220K vs 220.50 last week .
Continuing claims 1.927M versus 1.872M estimate. That is the highest November 2021
Prior week of continuing claims 1.840M revised to 1841M
4-week moving average of continuing claims 1.866M vs 1.837M last week. That is the highest level sin...

Core PCE inflation annualized:
1 month: 2.0%
3 months: 2.4%
6 months: 2.5%
12 months: 3.5%
we're almost at the soft landing.
If you exclude housing or treat it differently the story is a bit better.
3-month annualized inflation:
Core w/ new rent: 1.5%
Core ex housing: 1.7%
Core ex housing & used cars: 2.1%
Core services ex housing: 2.7%
(Note the last always runs high, is equivalent to 2% PCE.)
Still...

S&P 500's overbought status doesn't tell to sell. Market can target an all-time peak if the 2023 yearly highs are overcome. Dropping put-call ratios indicate a bullish wider stock market. The Volatility Index could remain low for extended durations and isn't concerning till it returns to 'spike' mode.