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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: Latest Earnings Cycle Underway
- The latest earnings cycle kicked off in earnest Friday morning, large banks beating estimates helped SPX Eminis climb to the highest levels since mid-April 2022 Friday morning. Stocks have since receded from midmorning highs, to near the middle of the session range, S&P E-Mini Future are up 11 points (0.24%) at 4554.75, DJIA up 136.4 points (0.4%) at 34529.48, Nasdaq up 64.8 points (0.5%) at 14203.67.
- While BlackRock, JP Morgan, Wells Fargo, State Street and Citigroup all beat estimates this morning, Financial sector shares lagged gains in Health Care, Information Technology and Consumer Discretionary sector shares.
- Leading gainers: Health Care buoyed by UnitedHealth Grp after beating earnings estimates this morning (2Q adj $6.14 vs. $5.95 est), UNH shares up 6.6% at midday. Other health services share gains included Elevance Health +4.85%, Cigna +4.25% and Humana +2.5%.
- Information Technology shares continued to gain as demand by AI applications remains supportive of semiconductor shares: Advanced Micro Devices 4.45%. Nvidia +2.75%, Applied Materials +1.3%.
- Laggers: Energy and Materials sectors underperformed, partly due to decline in crude (WTI -1.39 at 75.50) and Gold on the day (-1.50 at 1960.0). APA -4.6%, Marathon -3%, Devon Energy -2.95%; Miners: Nucor -2.75, Freeport McMoRan -2.3%.
- Look ahead: Banks announcing next week: Bank of New York Mellon, Bank of America, Charles Schwab, Morgan Stanley, Citizens Financial, M&T Bank, Northern Trust, US Bancorp, Goldman Sachs, Discover Financial, Fifth Third Bancorp, KeyCorp, Truist Financial, Capital One, Comerica, Huntington Bancshares and American Express.
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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.