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E-Minis Struggle After Big Tech Earnings
E-minis have struggled since the closing bell on Wall St., although the 3 major contracts have not forced a real test of Thursday lows, yet, with the space struggling in the wake of after-market earnings reports from tech giants including Apple, Alphabet, Amazon & Facebook. While the headline numbers seen in the reports (revenue & EPS) were mostly beats, Thursday's Wall. St. rally (the buy the rumour sell the fact narrative) and some of the idiosyncracies surrounding the earnings releases, including guidance, are being identified as the drivers behind the pull back.
- The NASDAQ e-mini underperformed owing to the tech-centricity of the move, although all 3 major contracts are off worst levels.
- Regional Asia-Pac equities also struggled as a result.
- Nikkei 225 -0.6%, Hang Seng unch., CSI 300 -0.2%, ASX 200 unch.
- S&P 500 futures -27, DJIA futures -177, NASDAQ 100 futures -130.
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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.