MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI: US REDBOOK: DEC STORE SALES +4.2% V YR AGO MO

US Q3 REV NONFARM PRODUCTIVITY +2.2%; Y/Y +2.0%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Awaiting FOMC, Drags From WTI Slide and Semiconductor Outlook

US STOCKS
  • The S&P 500 e-mini has kept to narrow ranges today whilst modestly extending yesterday’s ECI-induced slide despite some pullback in Treasury yields.
  • At 5047.00 (-0.4%), ESM4 is seen in a bearish cycle with support at 5022.25 (Apr 25 low) after which lies the bear trigger at 4963.50 (Apr 19 low).
  • In the event of a dovish surprise from the FOMC, resistance is seen at 5132.17 (20-day EMA).
  • By sector, utilities lead gains across a variety of names (+1.1%), followed by communication services (+1.0%). Losses are concentrated in energy (-1.6%), with WTI falling below $80/bbl after inventory data, and IT (-1.3%) owing to heavy declines in NVidia (-5.3%) attributed to concerns for the broader semiconductor outlook after AMD’s presentation (AMD -9.6%).
  • The Nasdaq 100 underperforms (-0.7%) whilst the Russell 2000 (-0.1%) and Dow Jones (+0.2%) outperform.
Homepagemarkets-real-timeCreditEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.