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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 AccessEquities Roundup: Airlines, Banks Outperforming
- Stocks are holding to a narrow range at midday, a few dollars either side of steady as markets await the latest FOMC policy announcement this afternoon. Currently, S&P E-Minis trades down 2.25 points (-0.04%) at 5239.5, Nasdaq down 9.5 points (-0.1%) at 16157.15, DJIA up 16.25 points (0.04%) at 39124.93.
- Leading Gainers: Industrials and Financial sectors outperformed, with airline stocks supporting the former: American Airlines gained 2.84% after a UBS upgrade, followed by Delta +2.65% and United +2.55%. Bank shares buoyed the Financial sector: Fifth Third +1.21%, US Bancorp, USB and M&T Bancorp all +1.15%, while KeyCorp gained 1.0%.
- Laggers: Health Care and Energy sectors underperformed in the first half, pharmaceutical and biotech shares weighed on the former: Moderna -2.52%, AbbVie and Zoetis -1.24%, Danaher -1.20%. Oil and gas stocks traded weaker as crude prices remained under pressure at midday (WTI -1.70 at 81.77): Hess -1.75%, Chevron -1.26%, Diamondback Energy -1.0%.
- The trend condition in S&P E-Minis remains bullish. Recent fresh cycle highs, reinforce current conditions and note that price action continues to highlight the fact that corrections remain shallow. This is an important bullish signal, reflecting positive market sentiment. Support to watch is 5175.27 the 20-day EMA. A clear break of this EMA would open 5065.11, the 50-day EMA. Sights are on 5300.00 next.
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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.