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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.
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Free AccessMNI POLITICAL RISK - Trump's First Post Election Interview
MNI POLITICAL RISK ANALYSIS - Week Ahead 9-15 Dec
Equities Roundup: Marking Session Highs, Bank Earnings Kick Off
- US stocks are quietly climbing off midmorning lows in early afternoon trade: Dow Industrials (33,742.39 +157.38) and SPX Eminis (4147.50 +11.25) outperforming Nasdaq (12,067.28 -17.06) at the moment.
- No particular headline driver for the support, but position squaring ahead of Wednesday's key data risk, March CPI and FOMC minutes a likely factor.
- Energy, Industrials and Financial sectors are outperforming. Regarding the latter, JPM, Citi, PNC and possibly Wells Fargo are expected to announce earnings this week). Laggers: Communication Services and Information Technology and Consumer Discretionary sectors are underperforming.
- From a technical perspective, S&P E-minis remain in an uptrend and the contract is trading closer to its early April highs. Price has recently breached resistance at 4119.50, Mar 6 high, reinforcing a bullish theme.
- The move higher has also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension to 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key M/T resistance. Firm support lies at 4050.52, the 50-day EMA.
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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.