MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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 Sector Shares Lead Rally

US STOCKS
  • Off post-data lows, stocks are trading at/near recent session highs, risk appetite slightly improved as focus turns back to moderating jobs gains (and down-revisions to the two prior releases) ahead of next Wednesday's CPI (MoM 0.3% est vs. 0.1% prior; YoY 3.1% vs. 4.1% prior).
  • Currently, DJIA is up 103.29 points (0.3%) at 34025.82, S&P E-Mini Future up 27.5 points (0.62%) at 4474.5, Nasdaq up 116 points (0.8%) at 13794.89.
  • Leading gainers: Energy, Materials and Industrials sector shares are outperforming. Oil companies trading strong as prospect of tighter global supplies outweighed concerns about higher interest rates that could dampen global growth and energy demand. Schlumberger +7.5%, Haliburton +6.9%, Marathon Petroleum +4.87%, APA +4.75%. Materials and Industrials made similar gains as crude and Gold prices rebounded (WTI +1.38 at 73.18), Gold +16.0 at 1926.90.
  • Laggers: Health Care, Consumer Staples and Utilities sectors underperformed. Pharmaceuticals and biotech shares traded weaker in the second half, Biogen -2.6%, Merck -2.2%, Lilly -1.8%.
  • The technical/bull theme in S&P E-minis bull theme remains intact and the pullback this week appears to be a correction - for now. Attention is on the first support 4409.66, the 20-day EMA. Clearance of this level would expose 4368.50, the Jun 26 low and a key support.
  • On Monday, the contract pierced key resistance and the bull trigger at 4493.75, the Jun 16 high. A clear breach of this level would confirm a resumption of the uptrend opening 4532.08, a Fibonacci projection.

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.