CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equities Roundup: Energy, Health Care and Financials Lagging

US STOCKS
  • Stocks are paring early session gains, DJIA underperforming: down 188.86 points (-0.56%) at 33482.34, S&P E-Mini Future down 15.5 points (-0.36%) at 4323.25, Nasdaq up 11.4 points (0.1%) at 13215.7.
  • Laggers: Energy, Health Care and Financials sectors underperforming, equipment and services providers weighing on the Energy sector: Schlumberger -2.69%, Baker Hughes -2.45, Halliburton -2.32%.
  • Health Care also weighed by equipment and services providers: HCA -1.63%, Insulet Corp -1.53%, Becton Dickinson -1.45%. Meanwhile, insurance names weighed on Financials: Travelers -1.63%, Chubb -1.52%, Everest Group -1.35%.
  • Leaders: Consumer Discretionary, Information Technology and Real Estate sectors outperformed. Apparel and luxury goods buoyed Discretionary stocks, Nike +6.63% after reporting better than expected earnings and revenue growth guidance while global apparel and footwear company VFC gained 6.33%.
  • Meanwhile, software and semiconductor stocks helped support IT sector again: Micron +4.37%, Trimble +3.25%, Accenture +2.27%. Management and development shares buoyed Real Estate sector: CBRE +1.55%, CoStar Group +.10%
  • Technicals: A bear cycle in S&P E-minis remains in play and the latest recovery appears to be a correction. The recent break of support at 4397.75, the Aug 18 low, reinforced bearish conditions and signals scope for a continuation lower. Sights are on 4242.15, a Fibonacci retracement point. Initial firm resistance is 4472.85, the 50-day EMA. Ahead of the 50-day average is resistance at 4399.00, the Sep 22 high, and 4435.53, the 20-day EMA.
HomepageEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.