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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI US MARKETS ANALYSIS - NFP Followed by Ample Fedspeak
MNI US OPEN - Soft NFP Report Should Cement December Cut
MNI China Daily Summary: Friday, December 6
Equities Roundup: Weak Job Openings Spurs Rate Cut Hopes, Eqs Bounce
- Stocks bounced off lows following weaker than expected JOLTS job openings data rekindled projections of a rate cut in early 2024. Trading mixed ahead midday, DJIA is currently down 150.44 points (-0.42%) at 36049.79, S&P E-Mini futures down 8 points (-0.17%) at 4568.25, Nasdaq up 29.3 points (0.2%) at 14214.24.
- Leading gainers: Consumer Discretionary and Information Technology sectors outperformed, auto-makers supporting the former with Tesla +4.39%, GM +0.51%. Hardware and storage makers buoyed the IT sector: Apple +2.5%, Keysight Technology +0.39%, Arista Networks +0.35%.
- Laggers: Materials and Utility sectors underperformed, metals/mining shares weighing on the former: Steel Dynamics -2.11%, Newmont Mining -2.02%,m Freeport-McMoRan -1.62%. Meanwhile, water and multi-provider utility stocks traded weaker: Sempra -2.21%, CMS Energy -1.85%, PPL Corp -1.67%..
- A bullish theme in S&P e-minis remains intact and last Friday’s push higher is a positive development. The contract is trading closer to its recent highs and so far, corrections have been shallow. Note too that moving average studies are in a bull-mode position and this highlights positive market sentiment. A resumption of gains would signal scope for a climb towards 4690.75, the Aug 2 high. Initial support lies at 4596.86, the 20-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.