Free Trial

E-Minis Lower Into The Cash Open

EQUITIES

The uptick in Tsy yields has helped bias S&P 500 e-minis lower ahead of the cash equity open, with the contract through yesterday’s late lows. It last trades -0.2% on the day.

  • China worry surrounding shadow banking and the property sector applied pressure in Asia-Pac hours, before a recovery from lows in early London trade.
  • An earnings-related pre-market bid in retailer target has done little for broader sentiment.
  • Technically, bearish conditions in the contract remain intact and short-term gains are considered corrective. 4,456.29, the base of a bull channel drawn from the Mar 13 low, has been breached, with the Jul 10 low at 4,411.25, providing the next level of support.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.