MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Equities Roundup: Energy, IT Sectors Outperforming

US STOCKS
  • Stocks extending modest early session gains, S&P eminis still shy of last Wednesday's high (4830.75), currently supported by Energy and Information Technology sectors. At the moment: DJIA trades up 62.85 points (0.17%) at 37448.31, S&P E-Mini futures up 9.75 points (0.2%) at 4815.25, Nasdaq up 56.1 points (0.4%) at 15049.87.
  • Leading gainers: Energy and IT sectors outperforming in the first half, equipment and services shares supporting the former: Schlumberger +1.64%, Haliburton +1.48%, Baker Hughes +1.44%. Semiconductor stocks buoyed IT: Intel +2.46%, Monolithic Power +1.38%, Lam Research +1.38%.
  • Laggers: Health Care and Consumer Staples stocks underperformed, pharmaceutical and biotech shares weighing on the former: Incyte -0.86%, Amgen -0.60%, Bristol-Myers Squibb -0.42%. BMY traded lower after announcing $4.1B to purchase radiopharmaceutical therapeutics company RayzeBio (RYZB) earlier in the day.
  • A bullish theme in S&P e-minis remains intact after last Wednesday’s abrupt sell-off/ correction. Last week’s fresh trend highs, confirm once again a resumption of the uptrend that started Oct 27. The contract has recently cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. Sights are on 4854.75 next, a Fibonacci projection. On the downside, initial firm support lies at 4692.70, the 20-day EMA.

HomepageEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed 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.