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Global Stock Markets Hit New Lows at NY Crossover

EQUITIES
  • Equity futures coming under further pressure as US comes to market - E-mini S&P now through the July 8th low and narrowing the gap with key support at the 4235.76 50-dma. A break below here would mark the first since mid-June.
  • First support for the e-mini S&P undercuts at the 50-day EMA of 4235.33.- A similar story for Europe, with CAC, DAX, FTSE futures all hitting their respect daily lows as the energy and financials sectors lead losses.
  • Oil & gas names suffering from the turnaround in oil prices (alongside the likes of NOK, CAD and RUB) while financials lower on flatter yield curves and renewed concerns over the longevity of a post-pandemic bounce given the spread of the Delta variant.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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