Free Trial

Equities Extend Weakness, With E-mini S&P Nearing Contract Low

EQUITIES
  • Equity weakness really picking up following the opening bell, with markets absorbing the new high in Freddie Mac mortgage rates (highest in 15 years) and modestly hawkish Fedspeak (Mester: Rates still not restrictive, Bullard: jobs market extremely strong, claims "super low").
  • E-mini S&P now nearing yesterday's lows (also the Dec-22 contract low) as first support at 3613.00. A break below here would put the index at the lowest level since late 2020 and extend the weakness off the year's highs to ~25%.
  • Notable underperformance in tech names, with every NASDAQ-100 constituent in negative territory. Apple sliding again, down over 4.5% at pixel time.
MNI London Bureau | +44 203-865-3809 | edward.hardy@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.