[MARKET UPDATE] US equities coming under pressure with the ES (-0.7%) breaking to session lows, accompanied by DXY strength
Newsquawk Staff ·
US equities coming under pressure with the ES (-0.7%) breaking to session lows, accompanied by DXY strength.
What it means
US equities are experiencing selling pressure, evidenced by the E-mini S&P 500 breaking to session lows, indicating a potential shift in market sentiment. This move may be correlated with the strengthening of the DXY, suggesting that investor appetite may be leaning towards the dollar as a safe-haven amid weakening equity performance. Watch for potential cross-asset implications, as this dynamic often affects commodities and global risk sentiment.
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- [MARKET UPDATE] WTI and Brent futures tick higher amid multiple geopolitical headlines, including reports of an explosion at the Saudi Ras Tanura (550k BPD) refinery; WTI Dec and Brent Jan towards the top ends of intraday ranges
- [MARKET UPDATE] Modest USD strength continues as EUR, GBP are softer and oil prices tick higher, with DXY currently at session highs of 101.81; Next upside levels for the DXY: 101.85 (Friday high), 101.88 (Thursday high)
- [MARKET UPDATE] OATs open with gains of c. 70 ticks, after Moody's held the rating steady on Friday
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