Futures Rise on Buybacks, Bullish Charts: S&P 500 Eyes Gain

Computer-driven demand for stock futures is on the rise, with charting patterns turning more bullish and the anticipation of share buybacks fueling potential gains in the market.
E-mini S&P 500 contracts tested the 50-day moving average, signaling a positive trend after the monthly jobs report indicated a more balanced labor market and increased likelihood of a rate cut in September.
CTAs have been steadily purchasing E-mini S&P 500 and Nasdaq 100 contracts, with stocks expected to continue their upward trajectory fueled by buybacks, lower volatility, positive earnings outlooks, and reduced geopolitical risks.