Free Trial

Stocks Just Above Water as 50-dma Remains Out of Reach

  • US equity futures traded in minor positive territory into the close, with the e-mini S&P rebounding around 40 points of so off the overnight lows. This keeps the index trading either side of the 100-dma at 4357.3, which has anchored the index for close to two weeks.
  • Weakness across the likes of communication services, healthcare sectors countered strength in real estate and consumer discretionary, leaving headline indices broadly unchanged.
  • Markets appear to be adopting a more neutral tone ahead of the key earnings cycle which begins in earnest on Wednesday. Blackrock and JPMorgan Chase will be in focus, with markets looking to gauge the extent to which bank profits are benefiting from a steeper yield curve that should flatter margins.
  • Across Europe, performance was mixed, with losses for the EuroStoxx50 and CAC-40 running against gains for Italian and Spanish indices.

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.