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E-minis Pressured

EQUITIES

The aforementioned COVID worry & U.S. Senate Democratic Senator Manchin’s effective blocking of President Biden’s Build Back Better scheme has weighed on e-minis in early trade this week, pushing the S&P 500 contract below Friday’s low (the three major contracts now trade 0.5-0.6% lower on the day). The next meaningful technical support level for the S&P 500 contract comes in at the Dec 3 low and bear trigger, after the contract pushed below its 50-day EMA.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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