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S&P 500 Cons Staples Jun '24 (BLM24)

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S&P 500 Cons Staples Futures Market News and Commentary

Stocks Settle Mixed as Indexes Consolidate Below Record Highs

The S&P 500 Index ($SPX) (SPY) Friday closed up +0.12%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.06%. 

US stock indexes settled mixed on Friday as they consolidated just below this week’s all-time highs.  Stocks garnered some support Friday on dovish comments made Thursday evening from Atlanta Fed President Bostic, who said if the outlook unfolds as he expects, referring to slowly moderating inflation and continued economic momentum, "then it could be appropriate for us to reduce rates toward the end of the year."

Higher T-note yields on Friday weighed on chip stocks and kept the Nasdaq 100 in negative territory.  Hawkish comments from Fed Governor Bowman pushed T-note yields higher when she said, "With average core CPI this year through April running at an annualized rate of 4.3%, well above average inflation in the second half of last year, I expect inflation to remain elevated for some time."... Read more

Contract Specifications

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Contract
S&P 500 Consumer Staples Sector Index
Contract Size
$100 times Index
Tick Size
0.10 points ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 3:00p.m.) CST
Exchange
CME
Point Value
$100
Expiration Date
06/21/24 (34 days)

Seasonal Chart

S&P 500 Cons Staples Jun '24
Average Price Chart for 5 Prior Jun Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
745.60 +5.98%
on 04/18/24
794.60 -0.55%
on 05/16/24
+44.90 (+6.02%)
since 04/17/24
3-Month
740.80 +6.67%
on 04/16/24
794.60 -0.55%
on 05/16/24
+44.30 (+5.94%)
since 02/16/24
52-Week
681.50 +15.95%
on 10/12/23
794.60 -0.55%
on 05/16/24
-2.00 (-0.25%)
since 05/17/23

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 793.67
2nd Resistance Point 792.33
1st Resistance Point 791.27
Last Price 790.20s
1st Support Level 788.87
2nd Support Level 787.53
3rd Support Level 786.47

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52-Week High 794.60
Last Price 790.20s
Fibonacci 61.8% 751.40
Fibonacci 50% 738.05
Fibonacci 38.2% 724.70
52-Week Low 681.50

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