Futures and Market Performance
Futures pricing tilted lower across several asset classes, with the USD Dec ’26 contract down at 101.860 and Nov ’26 crude down at 93.79. Risk benchmarks also weakened: the Sep ’26 S&P 500 E-mini was 88 ticks lower at 7747.00, while Dec ’26 gold traded down at 4180.30. Rates moved the other way, as the Dec ’26 30-year T-Bond was higher by 42 ticks at 105.18. Asian markets traded lower, and European markets were mixed.
Upcoming US Data and Correlation Analysis
A dense US data slate was flagged for 8:30am EST: Core PPI m/m, Core Retail Sales m/m, PPI m/m, Retail Sales m/m, the Philly Fed Manufacturing Index, Unemployment Claims and the Empire State Manufacturing Index, followed by Natural Gas Storage at 10:30am and Crude Oil Inventories at 12 noon. Separately, correlation analysis referenced a move around 8:30am in which 2-year Treasury note futures (ZT) fell as the Dow rose; the example cited a “20 plus ticks” opportunity, with each tick valued at $6.25, and stated the ZT front month is now Dec ’26. The Dow was reported lower by 114 points on the day, with broader indices also closing lower.
