Small Business Index at 3-Month Low
STOCK INDEX FUTURES
Stock index futures are higher as voting in midterm elections gets underway.
The National Federation of Independent Business Small Business Optimism Index fell to a three-month low of 91.3 in October of 2022, compared to 92.1 in September when 91.8 was expected. This is the tenth consecutive month under the 49-year average of 98.
Stock index futures are performing well for the news.
The U.S. dollar index is higher today but has underperformed in the last two months.
Retail sales in the euro area increased 0.4% month-on-month as anticipated.
The Japanese yen is higher after Japan’s Cabinet approved a second supplementary budget.
Household spending in Japan increased 2.3% in September from a year earlier, coming in slightly lower than economists’ median estimate of 2.7%.
INTEREST RATE MARKET FUTURES
The Treasury will auction three-year notes today.
According to financial futures markets currently, there is a 52.0% probability that the Federal Open Market Committee will increase its fed funds rate by 50 basis points at the December 14 meeting and a 48.0% probability that the rate will be hiked by 75 basis points.
I anticipate Federal Reserve speakers this week may walk back some of Fed Chair Powell’s hawkish comments that he made at his FOMC press conference on Wednesday.
Interested in more futures markets? Explore our Market Dashboards here.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.