MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

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 Sector Gains After Crude Inventory Draw

US STOCKS
  • Stocks are trading mixed, reversing the prior session's moves with Dow components outperforming weaker SPX and Nasdaq stocks late Wednesday.
  • DJIA had a rocky climb to 33671.72 -- up 97.99 points (0.29%), while SPX trades down 12 points (-0.28%) at 4277.75, Nasdaq down 134.6 points (-1%) at 13143.02.
  • Leading gainers: Energy sector lead by a broad based support in drillers, refiners and distributors as crude inventories showed a small draw vs the market expectation of a small build driven by a large increase in refinery utilization and drop in imports. Utilities followed, supported by independent power and renewable energy shares.
  • Laggers: Reversing prior session gains, Communication Services, Information Technology and Consumer Discretionary sectors underperformed, the latter despite automakers trading strong (Ford +4.5%, GM +2.75%).
  • For a technical perspective, S&P E-minis are in a consolidation mode but the trend condition is bullish following recent gains. Resistance at 4244.00, Feb 2 high and a bull trigger, has recently been cleared. The break reinforces bullish conditions and confirms a resumption of the uptrend that started in October 2022. The focus is on 4327.50 next, the Aug 16 2022 high (cont). The 50-day EMA, at 4155.00 remains a key support. A break is required to signal a reversal.
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.