FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equities Roundup: Extending Gains, SPX Back to Monday Levels

US STOCKS
Stocks inching higher after midday, SPX Eminis nearing Monday's levels in what appears to be a tentative risk-on move after House Speaker McCarthy told reporters that he believes negotiating a debt ceiling plan by Sunday is "doable".
  • Extending session highs after President Biden said he expects to sign off on a final deal by Sunday, S&P E-Mini Future are currently up 35 points (0.85%) at 4158; DJIA up 322.5 points (0.98%) at 33335.02; Nasdaq up 99.5 points (0.8%) at 12442.79.
  • Leading gainers: Energy sector outperforming with a decent rebound in Crude (WTI +1.95 at 72.81), followed by Financial and Consumer Discretionary sectors, banks leading the former with Comerica +10.5%, Zion +9.25% and KeyCorp +7.05%. Laggers: Consumer Staples, Health Care and Utilities sectors trading weaker.
  • From a technical point of view S&P E-minis remain in consolidation mode. Price is trading above the 50-day EMA, which intersects at 4109.81. A resumption of gains would open key resistance and the bull trigger at 4206.25, the May 1 high.
  • Clearance of this level would confirm an extension of the bull trend that started Mar 13. Key support has been defined at 4062.25, the May 4 low. A move through this level would instead highlight a bearish threat.
HomepageEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.