Free Trial

Stocks Improve Off Mixed Start

  • European cash markets started off mixed, with French and German indices opening lower but swiftly recovering to trade inline with yesterday's close after an hour or two. Europe's energy and utilities sectors are leading the way higher, while consumer staples and healthcare add a headwind.
  • US futures are trading higher, with the e-mini S&P higher by 15 points or so. S&P E-minis recovered last week and price action on Oct 14 resulted in a move above the 50-day EMA - at 4393.95 today. A clear breach of the average has strengthened the case for bulls and this week's positive price action reinforces current short-term conditions. 4472.00, Oct 7 high has been breached opening 4539.50, the Sep 3 high and bull trigger.
  • VIX futures trade under pressure, with the contract now in close proximity to the mid-June lows of 16.05 points and post-pandemic lows.
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.