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Healthcare, Tech Help E-mini S&P Through Last Week's Lows

EQUITIES
  • Equity markets deteriorating further, with the e-mini S&P now well through the Friday lows to mark the lowest print since Aug23. Next support undercuts at that day's lows of 4433.50 ahead of the 50-dma / 50-day EMA at 4421.21 / 4417.10.
  • Healthcare names are adding to the downside pressure, with tech and consumer discretionary also in negative territory.
  • The downtick not affiliated with a sharp uptick in volumes, with around 4,500 contracts trading on the slip to the day's lows.
  • Notable single names adding to the downside pressure include Moderna & Pfizer as reports suggest third vaccine boosters not needed and Twitter & Netflix after a Goldman Sachs' re-rating.

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