Prices are mixed ahead of former U.S. Federal Bureau of Investigation Director James Comey's public testimony today.
In addition, traders are closely monitoring the ongoing geopolitical tensions in the Middle East.
Jobless claims in the week ended June 3 fell 10,000 to 245,000, when 248,000 were expected.
The 9:00 central time April wholesale inventories report is anticipated to be down .3% and wholesale trade is estimated to be up .2%.
The main trend for stock index futures is higher.
The euro currency is lower even though the European Central Bank removed a reference to the possibility of it lowering interest rates in its regular monetary policy statement today, suggesting the central bank has confidence in the euro zone's economic recovery.
In addition, it left its key interest rates unchanged.
The central bank of the euro zone said, "The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases." At its previous policy meeting, the ECB left the door open for reducing interest rates.
According to The European Union's statistics agency, first quarter gross domestic product increased .6% from the last quarter of 2016, and by 1.9% from the first three months of last year. It was previously estimated that quarter-to-quarter growth would be .5%, and year-to-year growth would be 1.7%.
Longer term, we expect the euro currency to advance, while the U.S. dollar underperforms.
There was short term strength in the Japanese yen after the Bank of Japan said it was thinking about how to handle a future exit from its monetary stimulus.
However, the second estimate of Japan's first quarter gross domestic product suggests the BoJ may be in no hurry to scale back, since growth expanded by 1% in the first quarter, which compares to the preliminary reading of 2.2%.
Futures are mixed with limited market moving news in the overnight trade.
The Federal Open Market Committee is widely expected to raise interest rates at its June 14 meeting.
The probability of a rate hike is 96%, which compares to 93% yesterday.
June 17 S&P 500
Support 2427.00 Resistance 2441.00
June 17 U.S. Dollar Index
Support 96.460 Resistance 97.300
June 17 Euro Currency
Support 1.11880 Resistance 1.12980
June 17 Japanese Yen
Support .90660 Resistance .91600
June 17 Canadian Dollar
Support .73880 Resistance .74300
June 17 Australian Dollar
Support .7511 Resistance .7575
September 17 Thirty Year Treasury Bonds
Support 154^0 Resistance 155^0
August 17 Gold
Support 1281.0 Resistance 1296.0
July 17 Copper
Support 2.5400 Resistance 2.6000
July 17 Crude Oil
Support 45.01 Resistance 46.68
For more information about these markets, please contact Alan at 312.242.7911 or via email at email@example.com. Thank you.
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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 risk of loss in trading futures and options can be substantial. The views and opinions expressed in this letter are those of the author and do not reflect the views of ADM Investor Services, Inc. or its staff. Research analyst does not currently maintain positions in the commodities specified within this report. 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.
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The risk of loss in trading futures and options on futures can be substantial. Each investor must carefully consider whether this type of investment is appropriate for them. Past performance is not necessarily indicative of future results.