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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: DJIA at New All-Time Highs, Chip Stocks Strong
- Stocks are gaining again ahead midday, bouncing off this morning's post-data lows -- deemed more mixed than the initial hawkish reaction warranted. S&P Eminis and Nasdaq are off Thursday's new all-time highs (5,707.75 and 18,661.46 respectively) while the DJIA has climbed to new contract highs, overtaking the prior high of 40,065.18 from May 20.
- Currently, the DJIA is up 336.01 points (0.83%) at 40090.75, S&P E-Minis up 46.5 points (0.82%) at 5686.5, Nasdaq up 200.7 points (1.1%) at 18484.55.
- Information Technology and Consumer Discretionary sectors led gainers in the first half, semiconductor makers recovering from Thursday's profit taking: Monolithic Power +3.45%, Intel +3.36%, Enphase +3.33%. Auto makers supported the Consumer Discretionary sector: Ford +3.71% outpacing Tesla +3.04%, while GM gained 1.56%.
- Conversely, Communication Services and Energy sectors underperformed in the first half, interactive media and entertainment pared midweek support with Meta -1.50%, Paramount -0.85%. Oil & Gas shares weighed on the Energy sector: Diamondback Energy -1.05%, Marathon Petroleum -0.87%, ConocoPhillips -0.64%.
- Meanwhile, banks kicked off the latest earnings cycle this morning, mixed results for Wells Fargo -6.78%, JP Morgan -1.11% and Citigroup -2.71%, while Bank of NY Mellon surged 4.51%.
- Next week sees Blackrock and Goldman Sachs on Monday; Bank of America, Charles Schwab, State Street and Morgan Stanley on Tuesday; Citizens Financial, US Bancorp, Discover Financial and Ally Financial on Wednesday; KeyCorp, M&T Bank and Blackstone on Thursday; Fifth Third, Regions Financial, Comerica, American Express and Huntington next Friday.
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.