Free Trial

Equity Roundup

US STOCKS

Strocks trading firmer, back near highs after some brief selling ahead the cash open.
Risk-on early London hours: Russia/Ukraine tensions cool after reports that Russia withdrawing some troops from Ukraine border. NATO head Stoltenberg said there's "no concrete sign of de-escalation", yet remains "cautiously optimistic", Bbg.

Pre-open selling on higher than forecasted PPI for Jan (+1.0% vs. 0.05% est).
SPX eminis trading +1.21% at 4442.0 (+48.); Dow Industrials +278.0, NASDAQ +236.0. SPX leading sectors:

  • Consumer Discretionary +2.08%
  • Information Technology +1.57%
  • Industrials +1.13%

Technicals: SPX eminis first resistance at 4586.0, Feb 2 and a near-term bull trigger. S&P E-minis remains vulnerable despite today's gains.

  • The contract recently failed to hold above the 50-day EMA - at 4549.15 today. This average represents a firm resistance and a clear break would suggest scope for a stronger rally towards 4671.75 initially, Jan 18 high. The Feb 10 candle pattern is a bearish engulfing reversal, signalling a potential top and the recent move lower
  • reinforces the pattern. This has exposed 4212.75.

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.