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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 AccessEquities Roundup: Chip Stocks Lead Rally for Second Day Running
- Stocks trading firmer, near session highs ahead midday as lower than expected flash PMI data fueled risk appetites as rates rallied and projected rate cut pricing climbed off recent lows. Currently, DJIA is up 183.79 points (0.48%) at 38426.7, S&P E-Minis up 49.25 points (0.98%) at 5096.5, Nasdaq up 221.4 points (1.4%) at 15672.39.
- Information Technology and Communication Services sectors led gainers in the first half, chip stocks gaining for the second consecutive session: Enphase +3.41%, Nvidia +3.18%, Microchip Technology +2.89%. Telecommunications shares buoyed comm services: Verizon rebounded +3.42% after selling off Monday despite announcing better than expected 1Q profits. ATT gained 0.77% in comparison.
- Laggers: Materials and Energy sector shares underperformed in the first half, metals and mining stocks weighed on the former as Gold prices remained weaker after falling over $60.0 Monday: Nucor -6.65%, Freeport McMoRan -2.29%. Meanwhile, oil and gas shares weighed on the Energy sector: APA -0.95%, Marathon Petroleum -0.28%, Chevron -0.15%.
- Corporate earnings expected after the close: Tesla, Enphase, Seagate, Texas Instrument, Baker Hughes, Steel Dynamics, Visa.
- Link to MNI's earning'scalendar.
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.