Morning Impact: Futures 4/18/24
Equity Indices, Treasuries, FX, Metals, Energy, Ags, Softs and Crypto
🌍 World Equity Indices Cash and US Index Futures
Asia passed a positive session. The Kospi (+1.95%) aggressively bounced out of it’s corrective lows. The Hang Seng (+0.82%) built upon Tuesday’s stabilization but sits in correction mode. The Nikkei (+0.31%) attempts to stabilize while the Shanghai Comp (+0.09%) failed to hold an aggressive push to fresh two-month highs. In Europe, FTSE (+0.16%) stabilized within its correction while DAX (-0.09%) looks shaky just off correction lows. The sunrise North American calls were about 0.25%, though there’s been bouts of softness since the Chicago open, most notably after a stronger-than-expected Philly Fed Manufacture headline reading.
📈 Mini DJIA (Jun-2024) at 38,073, +83 (+0.22%). The mini DJIA is slightly higher overnight, showing stabilization at crucial January lows, hinting at potential buying interest as profit-taking from long-term positions subsides. Holding the early week lows is crucial to rebuilding confidence.
📈 E-mini S&P 500 (Jun-2024) at 5,076.00, +13.75 (+0.27%). The E-mini S&P has moved higher overnight, yet is diverging slightly
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