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Why MNI
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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.
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Free AccessLate Session Sell-Off
- Stocks extending modest session lows, SPX and Nasdaq joining weaker Dow components in the last few minutes. At the moment, S&P E-Mini futures are down 10 points (-0.23%) at 4278.25; Nasdaq down 21.4 points (-0.2%) at 13223.3; DJIA down 175.3 points (-0.52%) at 33595.97.
- Industrials, Financials and Real Estate sectors continue to lead underperform while some notable weakness in Information Technology sector noted: EPAM Systems Inc, a software and services outsourcing company is trading 20% lower, Intel a distant second is down 4.05%, HP Inc -3.5%.
- Shares of Apple have pared early gains, back near steady after announcing a mixed reality headset in new tech conference.
- On the flipside, Materials, Communication Services and Health Care sectors continue to outperform.
- Despite the late dip, S&P E-minis trend conditions remain bullish and the contract traded higher Friday. Resistance at 4244.00, the Feb 2 high and a medium-term bull trigger, has been cleared. The break reinforces bullish conditions and confirms a resumption of the uptrend that started in October 2022. This opens 4327.50 next, the Aug 16 2022 high (cont). The 50-day EMA, at 4144.35 remains a key support. A break of this average is required to signal a reversal.
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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.