Geopolitical Risk And Global Covid-19 Trends Weigh On Markets

Deck
Covid-19 cases from India to Japan and other parts of the world continue to accelerate
Russia is amassing its largest military presence ever on the Ukrainian border, reaching an estimate of 150,000 troops
Johnson & Johnson and Procter & Gamble both beat top and bottom-line earnings estimates

Anna Carpenter
Tue, 04/20/2021 – 09:57

Authors
Blue Line Futures

Publication Date

Image
Equity Index futures

Tuesday’s Close

E-mini S&P 500 Futures (June): Settled at 4155.50, down 20.75

E-mini Nasdaq-100 Futures (June): Settled at 13,897.25, down 132.25

U.S. benchmarks still pointed lower ahead of the bell and several macro narratives have been weighing on the tape. Still, all things considered, this is a very expected pullback after the S&P and NQ both went a little too far, a little too quickly. 

Although Covid-19 cases from India to Japan and other parts of the world continue to accelerate, the 7-day moving average in the U.S. dropped for the 5th day in a row yesterday. Japan’s Nikkei is on a 2-day, 3.5% slide. 

Geopolitical factors are also in the mix. Chinese President Xi, in a speech, directed friction toward the U.S., calling for “fairer world order.” Japan’s Prime Minister Suga visited President Biden at the White House last week and together released a joint statement calling for “peace and stability” in Taiwan. Shortly after, China carried out aerial bombing drills in a show of strength. 

Separately, Russia is amassing its largest military presence ever on the Ukrainian border, reaching an estimate of 150,000 troops. Russia also bombed Syria yesterday, reportedly “killing 200 terrorists.” Russian President Putin is expected to speak later today at President Biden’s climate conference, and it’s uncertain whether this is a sign of diplomacy or aggression.

On the earnings front, Johnson & Johnson and Procter & Gamble both beat top and bottom-line estimates. Lockheed Martin beat on earnings, but revenues fell short. All 3 stocks were lower ahead of the bell. Netflix reports after the closing bell.

Interested in our technical perspective? Please sign up to have Blue Line Futures technical outlook, actionable bias, and proprietary levels emailed to you each day.

Section
Market Analysis

Topic
Index

Tags
Index
S&P 500
equities
stocks
China
S&P 500 futures
Dow Jones futures
E-mini S&P
S&P E-mini
S&P 500 Index
Gold
Non farm payrolls
Metals

Site
FuturesMag

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.