Equity Analysis and News
See our Q4 forecasts to learn what will drive price action through the quarter
Price | 200DMA | RSI | Open Interest | IG Sentiment | |
---|---|---|---|---|---|
Europe | |||||
FTSE 100 | 7081 | 7458 | 18 | 606,188 | Mixed |
DAX | 11629 | 12513 | 25 | 96,407 | Mixed |
CAC 40 | 5103 | 5376 | 18 | 270,235 | Bearish |
US | |||||
S&P 500 | 2767 | 2767 | 28 | 2,709,549 | Bullish |
DJIA | 25444 | 25145 | 32 | 88,552 | Mixed |
Nasdaq 100 | 7129 | 7131 | 40 | 237,839 | - |
S&P 500 | Earnings May Keep Risk Sentiment Intact
S&P 500 futures are modestly firmer to begin the week, following the surge in Chinese assets overnight where the Shanghai Composite saw gains of 4.1%. Over the course of the week, 158 S&P 500 companies are due to report their latest corporate results, which includes heavyweights, Amazon, Alphabet, Microsoft and McDonalds. While sentiment remains fragile given the recent sell-off in equity markets with US consumer staples ETF outperforming the industrials ETF, a slew of upside surprises may be needed in order to keep risk sentiment buoyed for US equity markets. As it stands, 17% of index have beaten analyst earnings estimates.
S&P 500 Price Chart: Daily Time Frame (Jan-Oct 18)
FTSE MIB | Relief Rally, However, Risks Remain
Relief rally for Italian assets despite a downgrade by Moody’s by Italian sovereign credit. The outlook had been revised to stable from negative reducing the likelihood of a further downgrade in the near term, which would have taken Italian bonds to junk status. However, risks remain for Italian assets with the EU set to reject the Italian budget proposal, while S&P is due to announce their credit rating on Friday with question marks as to whether they will follow in Moody’s footsteps.
FTSE MIB Price Chart: Daily Time Frame (Sep 2016 – Oct 2018)
KEY TRADING RESOURCES:
- Just getting started? See our beginners’ guide for FX traders
- Having trouble with your strategy? Here’s the #1 mistake that traders make
- See our Q4 forecasts to learn what will drive FX the through the quarter.
--- Written by Justin McQueen, Market Analyst
To contact Justin, email him at Justin.mcqueen@ig.com
Follow Justin on Twitter @JMcQueenFX