Free Trial

Mixed Monday, But Outlook Turning More Positive

  • The S&P 500 looked to secure a fourth consecutive session of gains. The cash index broke back above the 50-dma to touch the best levels since mid-September, shifting the outlook more positive in the near-term.
  • Consumer discretionary and energy names led the way higher on Wall Street, while healthcare and utilities were the laggards. This underpins the risk-on theme, helping the e-mini S&P with the set-up toward resistance at the Sep 9 high of 4519.75 and the bull trigger and the all-time high posted in early September at 4539.50.
  • Elsewhere, equity markets across Europe were broadly negative, with the EuroStoxx50 lower by 0.6% while the CAC-40 dropped 0.8%.
  • The Q3 earnings continues Tuesday, with focus turning to reports from BNY Mellon, Johnson & Johnson, Netflix and Proctor & Gamble. Full schedule with expectations and timings here:
MNI London Bureau | +44 203-865-3809 |

To read the full story



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.