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Dow Futures Hits Record High


U.S. stock index futures are mixed, but Dow futures are higher and registered a new record high.

January durable goods orders were up 3.4% when a gain of 1.1% was expected.

The fourth quarter gross domestic product increased 4.1%, as anticipated.

Jobless claims in the week ended February 20 were 730,000 when 815,000 were estimated.

The 9:00 central time January pending home sales index is expected to be unchanged.

The technical picture remains supportive for stock index futures.


The U.S dollar is lower after dovish testimony from Federal Reserve Chairman Jerome Powell earlier this week. In addition, there are increasing expectations for a massive U.S. fiscal spending package, which increased appetite for riskier assets.

Mr. Powell reiterated that the Fed has no intention of changing its policy approach any time soon, while he downplayed the threat of increased inflation.

The U.S. dollar’s decline extended further against commodity-linked Australian, New Zealand and Canadian dollars, which are trading at the highest levels in three years.

The euro currency is higher after the European Commission said its Economic Sentiment Indicator, which is an aggregate measure of business and consumer confidence, improved to 93.4 in February from 91.5 in January. This is the highest level since March 2020 and beat the forecast of 91.6.


Futures are steady at the front of the yield curve, while increased inflationary expectations have pressured futures at the long end of the curve.

Federal Reserve speakers today are Raphael Bostic at 7:30, Randal Quarles at 10:10, Raphael Bostic at 11:00 and John Williams at 2:00.

The Treasury will auction 7-year notes today.

In light of the Federal Reserve pledging not to hike its fed funds rate until possibly 2023, futures at the short end of the curve are likely to hold steady.

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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 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.

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