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E-Minis Supported After NFPs, Focus On Big Tech Reaction To Earnings

EQUITIES

Tsy yields move lower in the wake of the NFP report, providing support for e-minis into the cash equity open.

  • NASDAQ 100 e-minis lead the move higher since yesterday’s settlement, with the 3 major contracts +0.2-0.5%.
  • The good news surrounding Amazon’s quarterly earnings release and spill over into related names has outweighed the bad news in the details and guidance of the Apple earnings release, at least at an index level.
  • Pre-market: Apple -3%, Amazon +9%
  • Technically, e-mini S&P 500 futures continue to trade below 4,634.50, the Jul 27 high. The recent failure at the top of the bull channel and the break of the 20-day EMA highlights a developing bearish threat. A continuation lower would open 4,452.13, the 50-day EMA.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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