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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: IT, Consumer Discretionary Outperforming
- Stocks are extending session highs at the moment, risk sentiment improving as projected rate moves into 2024 continue to point to a rate cut (for the time being). Currently, S&P E-Mini future are up 10.5 points (0.24%) at 4395, Nasdaq up 117.1 points (0.9%) at 13635.66, DJIA up 65.12 points (0.19%) at 34161.88.
- Eminis through initial technical resistance of 4391.75 (Nov 3 high) focus is on 4430.50 (High Oct 12). Initial support well below: 4157.75/4122.25 Low Nov 3 / Low Oct 27 and the bear trigger.
- Leaders: Information Technology and Consumer Discretionary are outperforming, software and services names buoying the IT sector: Gen Digital +7.16% after 2Q results beat estimates, Adobe +3.67%, Intuit +3.03%. Broadline retail shares lifted the Consumer Discretionary sector: Etsy +2.65%, Amazon +2.28%, Ebay +0.88%.
- Laggers: Energy and Materials sectors underperformed: equipment and services shares weighed on the Energy sector: Schlumberger -3.82%, Halliburton -3.13%, Baker Hughes -2.43%. Meanwhile, metals and mining shares weighed on Materials: Freeport-McMoRan -3.59%, Newmont Corp -2.24%.
- Note: corporate earnings after the close: Devon Energy Corp, eBay Inc, Mosaic,
- DaVita Inc, Gilead Sciences Inc.
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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.