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EQUITIES: Lower As Russia Updates Nuclear Doctrine

EQUITIES
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Euro Stoxx 50 and S&P 500 futures both trade lower but haven’t managed to test their Monday lows as of yet.

  • While the contracts were already edging away from Asia highs, further weakness came after Russia updated its nuclear doctrine.
  • That action appears to be a direct response to weekend reports noting that the U.S. is set to allow Kyiv to use U.S. weaponry to conduct strikes deep inside Russian territory.
  • Note that the S&P 500 e-mini is only -0.10% on the day, while the Euro Stoxx 50 future is -0.42%.
  • Breaks below yesterday’s lows would expose the Nov 13 base in Euro Stoxx 50 futures (4,706.00) and the November 15 low in S&P 500 e-minis (5,876.75).   
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Euro Stoxx 50 and S&P 500 futures both trade lower but haven’t managed to test their Monday lows as of yet.

  • While the contracts were already edging away from Asia highs, further weakness came after Russia updated its nuclear doctrine.
  • That action appears to be a direct response to weekend reports noting that the U.S. is set to allow Kyiv to use U.S. weaponry to conduct strikes deep inside Russian territory.
  • Note that the S&P 500 e-mini is only -0.10% on the day, while the Euro Stoxx 50 future is -0.42%.
  • Breaks below yesterday’s lows would expose the Nov 13 base in Euro Stoxx 50 futures (4,706.00) and the November 15 low in S&P 500 e-minis (5,876.75).