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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI US Macro Weekly: Politics To The Fore
MNI Credit Weekly: Le Vendredi Noir
Equity Roundup: Support Wanes Into London Close
- SPX eminis extending session lows into the London close, ESM2 currently -54 (-1.23%) at 4336.75 - break of key support at 4355.50 (Apr 18 low and bear trigger). Focus on next key support of 4321.07, 61.8% Fibonacci retracement of the Mar 15 - Mar 29 rally, and exposing 4300.0 handle. In the event of a rebound: Key short-term resistance has been defined at $4509.00, Thursday's high. A break would be bullish.
- Latest earnings cycle that kicked off Monday winds down ahead the weekend. American Express (AXP) and Verizon (VZ), Schlumberger (SLB) and Newmont (NEM) annc'd pre-open, NEM weaker on profit miss/forward guidance.
- SPX leading/lagging sectors: Energy sector outperforming broader sell-off (-0.46%) as energy equipment and servicers outpace O&G shares. Consumer Staples and Consumer Discretionary (-0.60%) lead by autos yet again, Tesla up 1.58% to 1024.0
- Laggers: Health Care (-2.57%) weighed down by equipment mfgs, pharmaceuticals and biotechs. Materials (-2.25) with lead by weaker precious metals/mining shares.
- Meanwhile, Dow Industrials currently trades -488.87 (-1.41%) at 34303.34, Nasdaq -88.1 (-0.7%) at 13087.44.
- Dow Industrials Leaders/Laggers: Dow Inc gains for second session, +0.77 at 70.28; while AAPl and INTC slip -0.10-0.15. United Health leads laggers for second session -11.91 at 525.53; Caterpillar (CAT) -7.57 at 225.00.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.