FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Holding Clearance Of Resistance At Bull Channel Base

US STOCKS
  • The S&P e-mini at 4526 has dipped just slightly off session highs of 4530.75 having earlier cleared resistance at 4515.52 (former bull channel base drawn from Mar 13) as Treasuries rallied on softer US data.
  • A clear break could open next resistance at 4560.75 (Aug 4 high) whilst support is seen at the 50-day EMA of 4450.02.
  • SPX trades +0.4% with the largest contributions from Apple (+1.7%) and Nvidia (+2.1%) in a mirror of yesterday, to see IT lead on the day (+0.95%).
  • Utilities lag (-0.5%) with WTI giving up earlier gains, whilst overall financials at +0.3% belies weakness in banks (-0.4%). The latter’s weakness did however come before Bloomberg quoting sources on the Fed privately ramping up demands for corrective actions by regional banks (KBW regional banking index -0.6% but off lows seen before the headlines), although the news has prevented any further intraday recovery.
  • Nasdaq outperforms the S&P 500 with +0.6%, whilst the Dow again underperforms with 0.2%.
HomepageEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsAT&T Market NewsBank of America Market News
HomepageEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsAT&T Market NewsBank of America Market News

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.