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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.
US STOCKS
- ESH4 trades within 10pts of its session high of 4821.75 having mostly reversed Wednesday’s late rout, in turn coming close to recent highs of 4830.75.
- Further resistance is eyed at 4854.75 (Fibo projection of Nov-Dec price swing) whilst support is formed by Wednesday’s low of 4743.25.
- In e-mini space, the S&P 500’s +0.3%, sees it underperform the Russell 2000 (+1.2%) for the second day running, mostly in line with Nasdaq 100 (+0.3%) and outperform the Dow (+0.1%). In cash space, NDX at 16801.57 has seen a strong push back closer to Wednesday’s record high of 16860.68.
- Mega-caps languish today after some large gains earlier in the week, ranging between +0.6 and -0.5% but mostly weaker. The week’s drivers here have been Alphabet (+6.5%) and Meta (+5.1%) but with a solid drag from Apple (-1.8%).
- The day’s gains for SPX are more broad-based, led by utilities (+0.95%), consumer staples (+0.9%) and energy (+0.8%). Consumer discretionary lags (-0.25%, with Nike slumping -11% post-earnings) followed by IT (+0.15%).
S&P 500 e-miniSource: Bloomberg
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.
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