Equities are gaining some decent ground on the session now after more of a tepid start. It’s still early in the day but considering the market mood this week, it’s safe to say that Wall Street has at least averted another down week at least. This comes after a run of seven consecutive weeks of decline. S&P 500 futures are now up 14 points to 4,070:
The 100-week moving average for the cash market will be a key technical level to watch at 4,069.
As mentioned earlier, this is more of a week where we see some breathing room after the strong momentum moves since April and early May for the most part. The dollar is also slightly weaker on the day, set for back-to-back weekly declines for the first time this year.
Here’s a look at the equities space at the moment:
- Eurostoxx +0.9%
- Germany DAX +0.7%
- France CAC 40 +0.9%
- UK FTSE +0.1%
- S&P 500 futures +0.3%
- Nasdaq futures +0.5%
- Dow futures +0.2%