Futures Trading Education

U.S. Equity Markets finished yesterday’s session lower, led by the 1.21% fall in the NASDAQ 100. Surprisingly, the VIX only closed with a gain of 1% at a price of 19.90. Markets fell as July headline Retail Sales remain largely stagnant. Target (TGT) continued the trend for retailers this week as it warned that higher inventory levels will remain until inflation eases and boosts consumer demand. According to data from the Mortgage Bankers Association, weekly mortgage applications decreased 2.3% from the prior week. Overall purchase applications are nearing the lows seen early in the pandemic. Within the S&P 500, ten of 11 sectors finished lower. European Markets closed lower. Inflation accelerated to 10.1% in July for the U.K., marking the highest rate since February 1982. Pressures continue to increase on the Bank of England to raise rates further. Germany’s economy continues to struggle with higher energy costs and few solutions to prepare the Euro-Zone’s largest economy heading into the winter months. The government reported that it would have less than three months’ supply of natural gas to get through the winter if Russia cuts supply. In Asia, Japan posted its 12^th straight month of a trade deficit with exports rising 19.0% year over year (“YOY”) and imports rising to a new record of 47.2% YOY. New Zealand’s central bank raised its official cash rate by the expected 0.50% to 3.00% – above its self-defined neutral level. Chinese Premier Li Keqiang urged Chinese provinces to promote economic growth with initiatives aimed at autos and houses. Elsewhere, Oil bounced 1.43% while Gold fell 0.59% after another quiet session.

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