Averages at new all-time highs ahead of S&P rebalancing
2018-09-21 10:10:09
Stock futures closed above fair value, leading to new all-time highs at the open for the S&P and Dow. In addition to quadruple witching - when futures and options on indexes and individual stocks expire - today will see the largest reshuffling of industry classifications by S&P since 1999. Both could lead to volatility as cash is moved to account for the changes. Early trading, though, has been quiet following the up open. About 40 minutes after the opening bell, the S&P is up 8 points, the Dow is up 48 points and the Nasdaq is up 15 points.