Free Trial

Stocks Fade From the Open

EQUITIES

US equity futures fade an hour in from the opening bell, on what's the lowest volume of the week so far. E-mini S&P hitting lows at 3285.25 in recent trade - although still well above the week's lows printed on Monday at 3217.75.

The Dec-20 contract remains above key support at 3194.01, marking the 100-dma, while 3346.2 above (previously strong support) marks the 50-dma.

Energy and material firms leading the way lower at the open, with just industrials and financials sectors in the green so far. Lower gold prices are leading gold miners to the bottom-end of the pile, with Freeport-McMoRan and Newmont both lower by well over 2% so far.

Focus turns to Fed Chair Powell's comments as he speaks in front of the House imminently.

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.