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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI China Daily Summary: Wednesday, December 11
Chip Stocks Lead S&P Eminis to New Highs
- Stocks remain strong in late afternoon trade, carry-over rally in semiconductor stocks helping S&P Eminis extend new contract highs: S&P E-Minis currently up 40 points (0.78%) at 5144.25, Nasdaq up 180 points (1.1%) at 16272.41, DJIA up 76.22 points (0.2%) at 39071.61.
- Leading Gainers: Information Technology and Energy sectors outperformed Friday, AI demand driving continued broad-based support for chip makers: Broadcom +8.13%, Micron Tech +5.61%, KLA Corp +5%, Advanced Micro Devices +4.93%.
- Energy sector shares were supported by oil and gas shares as crude prices rallied (WTI +1.62 at 79.88): APA +2.72%, Marathon +2.38%, ConocoPhillips +1.88%.
- Laggers: Utilities and Financial sectors underperformed in the first half, multi-energy and electricity shares weighed the former: Dominion Energy -6.19%, Xcel Energy -6.04%, Edison Int -1.93%.
- Insurance names continued to weigh on the Financials sector (more so than banks after NY Comm Bancorp after the bank reported "material weakness" in internal loan review and controls late Thursday): Allstate -2.45%, Hartford -1.40%, Prudential Financial -1.25%.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.