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Dow Futures Micro Sep '23 (YRU23)

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Dow Futures Micro Futures Market News and Commentary

Stocks Close Higher as Fed Chair Powell Signals Rate Cuts

The S&P 500 Index ($SPX) (SPY) Friday closed up +1.15%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.18%.

US stocks rallied Friday, with the Dow Jones Industrials posting a 3-week high.  Comments from Fed Chair Powell Friday knocked bond yields lower and pushed stocks higher. Powell reinforced expectations that the Fed will cut interest rates at the Sep 17-18 FOMC meeting when he said cooling in the labor market conditions is "unmistakable," and his confidence has grown that inflation is on the path to 2%. Therefore, "the time has come for policy to adjust."

Dovish comments Friday from Atlanta Fed President Bostic also supported stocks when he said it is possible that more than one interest rate cut by the Fed may now be needed by year-end as inflation had slowed more than he had expected.

Friday’s fall in bond yields also fueled a rally in chip stocks, boosting the overall market.  In addition,... Read more

Contract Specifications

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Contract
E-Micro Dow Jones Industrial Average
Contract Size
$0.5 times Index
Tick Size
1 point ($0.50 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) CST (Settles 3:00p.m.) CST
Exchange
CBOT
Point Value
$0.5
Margin/Maintenance
$1,023/930
First Notice Date
09/15/23
Expiration Date
09/15/23 (expired)

Seasonal Chart

Dow Futures Micro Sep '23
Average Price Chart for 5 Prior Sep Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
34,062 +2.50%
on 08/25/23
35,189 -0.78%
on 08/16/23
-92 (-0.26%)
since 08/15/23
3-Month
33,802 +3.29%
on 07/10/23
35,844 -2.59%
on 07/27/23
+191 (+0.55%)
since 06/15/23
52-Week
29,094 +20.01%
on 09/30/22
35,844 -2.59%
on 07/27/23
+3,319 (+10.50%)
since 09/15/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 35,189
2nd Resistance Point 35,114
1st Resistance Point 35,014
Last Price 34,915s
1st Support Level 34,839
2nd Support Level 34,764
3rd Support Level 34,664

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52-Week High 35,844
Last Price 34,915s
Fibonacci 61.8% 33,266
Fibonacci 50% 32,469
Fibonacci 38.2% 31,673
52-Week Low 29,094

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