Pfizer shares added 5.3%. September E-mini Dow Jones Industrial Average futures are trading lower at the mid-session as it tries to claw back earlier losses that saw the blue chip average hit a two-week low. Dow Futures are financial futures which allow an investor to hedge with or speculate on the future value of various components of the Dow Jones Industrial Average market index. Dow Jones Industrial Average e-mini futures were down 0.35 per cent at 7:15 a.m. Dow component Pfizer and German biotech BioNTech SE were granted fast track designation by the FDA for two of the companies’ four vaccine candidates against the coronavirus. If the Dow Futures are trading at 7,000, a single futures contract would have a market value of $70,000. | Chart: Bloomberg. The main trend will change to up on a move through 27057 and 27063.The minor trend is also down. The result is that a trader who believed the market would rally could simply acquire Dow Futures and make a huge amount of profit as a result of the leverage factor; if the market were to rise to 14,000, for instance, from the current 10,000, each Dow Futures contract would gain $40,000 in value (4,000 point rise x 10 leverage factor = $40,000).In the United States broad-based index futures receive special tax treatment under the IRS 60/40 rule.
This could trigger a quick break into 26232 and 26176.If 26176 is taken out with conviction then look for the selling to possibly extend into the main 50% level at 25938.A sustained move over 26298 will indicate that buyers are coming in to defend against a steep sell-off. The multiplier for the Dow Jones is 10, essentially meaning that Dow Futures are working on 10-1 leverage, or 1,000%. Earlier in the session it plunged into an area that could’ve triggered an even steeper decline, but buyers came in to defend against that move. BioNTech jumped 15.2%. A trade through 26232 will signal a resumption of the downtrend.
Investors are also monitoring the discussion on new fiscal stimulus in Congress with the hopes of a deal by Friday.The main trend is down according to the daily swing chart. All of the Dow derived future contracts are a product of the Dow Futures contracts are commonly used for hedge or speculative financial goals. Related Dow, TSX close lower as investors adjust to volatile market September E-mini Dow Jones Industrial Average futures are trading higher shortly after the opening on Tuesday after trade advisor Peter Navarro clarified that the U.S.-China trade deal is not over.
A trade through the new minor bottom at 26232 will indicate the selling pressure is getting stronger.The minor range is 27057 to 26232. September E-mini Dow Jones Industrial Average futures are trading lower shortly after the cash market opening, partially pressured by weakness in components 3M Co and McDonald’s Corp. A firmer trade in another component, Pfizer, is helping to ease some of the selling pressure. During the pre-market session, the Dow broke sharply after investors misinterpreted Navarro’s comments about U.S.-China trade relations.
The futures instruments are derived from the Dow Jones Industrial Average as E-mini Dow Futures. The Nasdaq 100 mini contract also fell 0.4% to 7,736.00. June E-mini Dow Jones Industrial Average futures are trading lower shortly after the mid-session on Tuesday as investors paused ahead of a Federal Reserve meeting that could offer views on the recent signs of economic recovery that put the benchmark average in a position to turn higher for the year. ET, while S&P 500 e-mini futures were down 0.43 percent and Nasdaq 100 e-mini futures were down 0.36 per cent.
September E-mini Dow Jones Industrial Average futures are trading lower shortly after the cash market opening, partially pressured by weakness in components 3M Co and McDonald’s Corp. A firmer trade in another component, Pfizer, is helping to ease some of the selling pressure.The early trade is choppy as investors await a key monetary policy decision by the U.S. Federal Reserve on Wednesday. S&P 500 futures contracts declined 0.4% to 2,939.50.
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