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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: Industrials, Communication Services Outperforming
- Stocks are holding near steady to modestly higher at midday, little off first half highs as stocks recover nearly half the ground lost in Tuesday's post-CPI selloff. Mild risk on tone gained momentum overnight after UK CPI miss (tempered by EU IP strength notably in Ireland). Currently, the DJIA is down 2.63 points (-0.01%) at 38273.35, S&P E-Minis up 14.25 points (0.29%) at 4986, Nasdaq up 75.9 points (0.5%) at 15731.63.
- Leading gainers: Industrials and Communication Services sectors outperformed in the first half, ground transportation shares buoyed the former: Uber +11.07% after announcing a $7B share buyback overnight, Old Dominion +1.47%, Norfolk Southern +1.24%. Media and entertainment shares supported the Communication Sector: Netflix +2.58%, Electronic Arts +1.88%, Meta +1.40%.
- Laggers: Consumer Staples and Energy sectors underperformed in the first half, food and beverage shares weighed on the former: Kraft Heinz -6.30%, Campbell Soup -3.45%, JM Smucker -2.25%. Reversing prior session gains, Oil and gas shares weighed on the Energy sector: EQT Corp -4.41%, Williams Cos -3.80%, Valero -2.28%.
- Looking ahead: corporate earnings expected after the close: American Water Works, Equinix, Rollins Inc, Occidental Petroleum, Albemarle Corp, Cisco Systems, TripAdvisor Inc, Altice USA Inc.
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.