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Free AccessStocks Start Week Positively, But Well Shy of Last Week's Highs
- Equity markets have started the week on the front foot, with cash European indices higher by 0.5-0.8%. The recovery is further reflected in US futures, with the e-mini S&P higher by over 20 points at pixel time.
- Across Europe, the energy sector is leading the bounce - helped higher by the $2.50/bbl recovery in oil prices. Utilities and financials also trade more favourably.
- Despite the positive across Europe, US futures remain well below Friday's best levels, keeping a more solid bounce in check for now. Markets need to top 4509.20 to improve the near-term outlook, which looks far more fragile after last week's price action. On the weekly chart, last week marked the first week in 14 in which the e-mini S&P failed to print a new alltime high.
To read the full story
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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.