Stock Index Futures Remain Firm


With approximately two-thirds of S&P 500 company earnings reports now in, results on average have beaten expectations.

The 2:00 central time December consumer credit report is expected to show a $16.2 billion increase.

Stock index futures have remained firm despite the continuing belief that the Federal Open Market Committee will be slow to lower interest rates this year. This suggests that some other bullish influence that is not yet obvious is supporting prices.

The fundamentals and technicals remain supportive to stock index futures.


The U.S. dollar index is lower today, although interest rate differentials remain supportive to the greenback in the longer term.

Germany’s industrial production declined more than anticipated in December, posting the seventh consecutive month of falling output.  Output declined 1.6% compared with the previous month, from an upwardly revised 0.2% decline in November. This compared with a forecast of a 0.3% contraction. For the entire year of 2023 industrial production fell 1.5%.


Futures are mostly lower, especially at the long end of the curve.

The Treasury will auction 10-year notes today.

Federal Reserve speakers today Adriana Kugler at 10:00, Susan Collins at 10:30, Thomas Barkin at 11:00 and Michelle Bowman at 1:00.

Financial futures markets are predicting there is a 20% probability that the Federal Open Market Committee will lower its fed funds rate by 25 basis points at the March 20 meeting and an 80% chance that the Fed will keep rates unchanged.

The fundamentals are mixed.


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.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now