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Why MNI
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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 AccessEquity Roundup
Stocks making modest gains after the cash open, off early overnight lows, SPX eminis trading around 4516.5 (+19.0)
- Leading sectors:
- Energy +1.21%
- Utilities +0.96%
- Consumer Staples +0.62%
- Technicals: S&P E-minis have failed to hold above the 50-day EMA - at 4561.44 today. This average continues to provide a firm resistance and a clear breach of it is required to suggest scope for a stronger rally that would open 4671.75 initially, Jan 18 high.
- Note that yesterday's candle pattern is a bearish engulfing reversal, signalling a potential top. Watch support at 4438.50, Feb 4 low. A break would suggest scope for a deeper sell-off
- Weaker levels out of Asia overnight, European bourses lagging US bounce:
- Shanghai Shenzen CSI 300 -0.60% to 4603.2 (-27.6), Hang Seng -0.52% to 24860.0 (-130).
- Europe: EuroStoxx currently -.5% at 4168.0 (-21.0), DAX -0.08% at 15490.0; while FTSE slips -0.53% to 7573.
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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.