Despite a very dovish Fed we see the third day of price declines on the DE30 as the price dives below12300 points for the first time in 8 days on record global number of COVID daily cases. We have not seen 3 consecutive “red” days on DE30 since mid-May. A similar correction would take DE30 below 11700 points. The next support can be spotted at 11375 points.

Daily Summary: US Futures Retreat Amid Geopolitical Tensions and Inflationary Heat
S&P 500 futures retreat 1% amid hawkish Fed rhetoric and robust data
US Open: Indexes Stop on PPI, Banks in the Shadow of Data
MIDDAY WRAP: Mixed sentiment in Europe, declines on U.S. indices