{"id":20504,"date":"2024-11-06T21:16:41","date_gmt":"2024-11-06T21:16:41","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20504"},"modified":"2024-11-06T21:16:41","modified_gmt":"2024-11-06T21:16:41","slug":"post-election-market-surge-commodities-equities-rally-ahead-of-fomc-rate-decision","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/post-election-market-surge-commodities-equities-rally-ahead-of-fomc-rate-decision\/","title":{"rendered":"Post-Election Market Surge: Commodities, Equities Rally Ahead of FOMC Rate Decision"},"content":{"rendered":"\n\n\n
\n\n\n\n
Join our\u00a0Private Facebook group<\/a><\/p>\n

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a>,\u00a0or wherever you listen to podcasts!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n

<\/h3>\n

\"\"<\/h3>\n\n\n\n
\n

<\/h3>\n\n\n\n
\n\n\n\n
\n

US Elections, FOMC<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

 <\/p>\n

General:\u00a0<\/strong><\/p>\n

 <\/p>\n

On the heels of the U.S. Election Day results, commodities futures moves \u2013 up and down \u2013 have taken center stage in the financial world.\u00a0 Topping the charts \u2013 literally \u2013 the E-mini S&P 500 and E-mini Dow Jones vaulted to new all-time highs with 130+ and 1400+ point upward moves, respectively.\u00a0 Even the scrubby Russell 2000 took flight to new highs: up over 100 points, making it the stock index league leader in percentage gain at \u00b15.25%.<\/p>\n

 <\/p>\n

Outsize moves occurred across asset classes.\u00a0 Dec. gold gave up \u00b1$80 per ounce (an $8,000 per contract move), silver lost over $1.60 per ounce (also an $8,000 per contract move) and copper shed over 20 cents per pound \u2013 a \u00b15% \/ $5,000 per contract move.<\/p>\n

 <\/p>\n

Marking the biggest one-day move in eight years \u2013 going back to the U.K. vote for Brexit in June 2016, the ICE U.S. Dollar Index jumped 1.8%,\u00a0hammering other currency futures like the Euro, Japanese Yen, Swiss Franc and Mexican Peso, the latter sinking to its weakest level against the dollar this year.<\/p>\n

 <\/p>\n

In terms of percentage movement, the day\u2019s titleholder will likely be Bitcoin futures with the December contracts \u2013 full-sized and micro contracts \u2013 increasing over 9% with a \u00b1$7,000 move up to its own all-time high, touching 76,000 for the first time.<\/p>\n

 <\/p>\n

More General:\u00a0<\/strong><\/p>\n

 <\/p>\n

While the U.S. Election Day results have taken center stage, the futures markets are still keeping an eye on the rest of the upcoming potential market movers and that includes the conclusion of the most recent FOMC meeting tomorrow.\u00a0 The Fed is expected to reduce the benchmark policy rate by 25 basis points after it slashed its benchmark rate by 50 basis points, delivering its first rate cut since 2020 after their last meeting in September.\u00a0 The U.S. federal funds rate currently sits at 4.75%\u20135%.\u00a0In September’s policy meeting, Fed policymakers anticipated the fed funds rate falling by additional 50 basis points by the end of this year, then another full percentage point through 2025, and a final half-point reduction in 2026, to end near the 2.75\u20133.00 per cent range.<\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n\n\n\n
\n\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n

Daily Levels for November 7th 2024<\/strong><\/p>\n

\"\"<\/p>\n\n\n\n
\n
\n
Economic Reports<\/div>\n
provided by:ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\n<\/div>\n
\"\"<\/div>\n
<\/div>\n
<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Good Trading!<\/div>\n
<\/div>\n
About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\n
<\/div>\n
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/div>\n
<\/div>\n
\n\n\n\n
\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
Contact<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n
\n
Cannon Trading Company<\/div>\n
12100 Wilshire Boulevard<\/div>\n
Suite 1640<\/div>\n
Los Angeles, CA 90025<\/div>\n
(800) 454-9572<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n
\n\n\n\n
\n
\n
Follow Us<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\"Facebook\"<\/a>\u00a0\u00a0\"Twitter\"<\/a>\u00a0\u00a0\"Instagram\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\n\n\n\n
Visit Our Website<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! US Elections, FOMC By Mark O’Brien, Senior Broker   General:\u00a0   On the heels of the U.S. Election Day results, commodities futures moves \u2013 up and down \u2013 have taken center stage in the financial world.\u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,230,1491,782,67,30,61,235,344,1378],"tags":[],"class_list":["post-20504","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-e-mini-futures","category-economic-trading","category-future-trading-news","category-futures-broker-2","category-futures-trading-2","category-index-futures","category-indices","category-sp-500"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20504"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20504\/revisions"}],"predecessor-version":[{"id":20506,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20504\/revisions\/20506"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}