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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: Communication Services, Industrials Help Rebound
- Stocks are climbing off recent session lows, Communication Services and Industrials sector shares outperforming. Currently, S&P E-Mini future are up 1.75 points (0.04%) at 4401, Nasdaq up 26.2 points (0.2%) at 13675.44, DJIA down 6.37 points (-0.02%) at 34106.43.
- Initial support for Eminis is well below: 4257.75/4122.25 (Low Nov 3 / Low Oct 27 and the bear trigger). Initial technical resistance of 4430.50 (High Oct 12) followed by 4435.50 (trendline resistance drawn from the Jul 27 high).
- Leaders: Communication Services and Industrials outperformed, media and entertainment shares buoyed the former: Disney +7.69%, Take Two Interactive +2.31%, Paramount +1.5%. Meanwhile, capital goods shares helped Industrials in the first half: Transdigm +9.33% after reporting strong earnings this morning, Parker Hannifin and Ingersoll Rand both +2.5.
- Laggers: Pharmaceutical and biotech shares weighed on the Health Care sector: Eli Lilly -5.21%, Biogen -3.82%, Gilead -3.48%. Meanwhile, auto makers weighed on the Consumer Discretionary sector: namely Tesla -3.52% (US Pres Biden said this morning he supports UAW efforts to unionize at Tesla and Toyota), while Ford and GM slipped 0.95% and 0.87% respectively.
- Additional corporate earnings after the close: Mettler-Toledo International, Illumina Inc and Wynn Resorts Ltd.
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.