Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
EQUITIES
  • European cash markets are mixed ahead of the Thursday NY crossover, with peripheral markets (Spanish, Italian) seeing solid gains of 0.5 - 0.8% while the core EuroStoxx50 as well as German and French markets sit slightly lower.
  • Europe's financials sector is propping up broader sentiment, mimicking stronger US bank stocks after the hawkish Fed decision yesterday, with solid earnings from the likes of Banco Sabadell and Deutsche Bank. This sentiment is mirrored in the outperformance for peripheral bond markets this morning, with both Spanish and Italian spreads tighter against the German benchmark.
  • Across futures, the e-mini S&P has recovered off the pullback lows of 4263.25, but is yet to make any headway on yesterday's highs of 4446.25. Earnings remain a key focus, with McDonald's, Mastercard and Apple among the larger reports due Thursday.
  • S&P E-minis remain vulnerable and price action is volatile. The contract sold off sharply Monday but recovered from the day low. Price has reversed sharply lower from yesterday's high and attention is on the key short-term support and bear trigger at 4212.75. The outlook is bearish and a break of this support would resume the trend.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.