BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

New Home Sales Activity And Prices Continue To Cool

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Holding A Partial Recovery Of Yesterday’s Late Rout

US STOCKS
  • The S&P e-mini sits in the middle of the day’s range at ~4772 (+0.5%), chipping away at yesterday’s late -1.5% slide attributed to a host of factors including profit taking in overbought conditions, 0DTE options and increasingly large sell programs.
  • It’s off yesterday’s low of 4743.23 but also notably below the high of 4830.75 which now sets initial resistance before 4854.75 (Fibo projection). Yesterday’s slide is deemed a corrective pullback from technical trends.
  • SPX gains are led by consumer discretionary (+1.0%, helped by Tesla +2.4%), health care (+0.8%) and materials (+0.7%), whilst utilities (-0.2%) and energy (-0.1%) lag in what’s been a volatile but weaker day for crude futures. A bear steepening in Treasuries through the session has done little to help banks, with the KBW index paring gains to +0.5%.
  • The Russell 2000 (+1.2%) outperforms after sliding 2% yesterday, followed by Nasdaq 100 (+0.65%) and the Dow (+0.4%). On the Russell 2000, Cboe is adding Tue and Thu 0DTE options, filling out the rest of week with its current offering of Mon, Wed and Fri.
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.