Definition
How many dollars one full point of price movement is worth on one futures contract.
The story
One point on ES (E-mini S&P 500 futures) is worth $50; one point on NQ (E-mini Nasdaq-100 futures) is worth $20. For gold futures (GC), a $1 move in the price of an ounce is worth $100, because each contract covers 100 ounces. So a 100-point move in NQ is $2,000 per contract.
Why markets watch it
Point value is what turns a chart move into dollars, so it's the first thing to know about any contract.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms