Free Trial

E-Minis Under Water Early On

EQUITIES

A defensive start to the new trading week, with Brexit risk front and centre and perhaps some digestion of Friday's news that the Trump administration is considering whether to add China's top chipmaker SMIC to a trade blacklist playing out.

  • On the non-traditional front it is worth highlighting that reports have pointed to SoftBank being a driving force behind the tech rally, with several source reports pointing to the company being active in single name tech company long call plays in recent months.
  • It is also worth noting that Friday bought news that Tesla did not make the cut in the latest round of S&P 500 inclusion announcements, which may also be pressuring the tech space.
  • NASDAQ 100 e-minis underperform in early trade this week, although all 3 of the major metrics are comfortably lower at typing. Still, none have made serious challenges of their respective Friday lows.
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.