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Policy
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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 AccessEarly Equities Roundup: Retail Sales Helps Stocks Hit 2-Week Highs
- Thursday's better than expected Retail Sales data helped stocks rally to the best levels since the beginning of August, led by strong gains in Consumer Discretionary and Information Technology sector shares.
- Currently, the DJIA trades up 422.14 points (1.06%) at 40430.41, S&P E-Minis up 73.25 points (1.34%) at 5550.25, Nasdaq up 328.5 points (1.9%) at 17520.06.
- Rebounding from midweek selling, autos, broadline retailers and apparel buoyed the Consumer Discretionary sector in the first half: Ulta Beauty +10.76% after Berkshire Hathaway announced a new stake in the company, Tesla +7.1%, Lululemon +5.92%.
- Of note, Walmart surged 6.55% after beating earnings estimates, climbing to a new highs over 76.60.
- Semiconductor makers continued to support the IT sector: Cisco +8.36%, Super Micro +5.41%, Micron +4.94% with a broad swath of stocks from Applied Materials to Qualcomm +3-4% before noon.
- On the flipside, Utilities and Real Estate sector shares underperformed in the first half, electricity/multi-energy shares weighing on the former: Eversource -2.51%, Consolidated Edison -1.85%, Evergy -1.12%. Investment trust shares weighed on the Real Estate sector: American Tower -1.63%, Welltower and Ventas both -1.42%, SBA Communications -1.38%.
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.