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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: Nvidia Buoys Broad Swath of Tech Stocks
- SPX levels recovered after testing the 50-day EMA support at 4124.40 Wednesday, . A continuation higher would refocus attention on initial key resistance at 4227.25, the May 19 high. Clearance of this hurdle would resume the uptrend that started on Mar 13.
- It's nice to see something other than debt-ceiling negotiations (albeit themselves sounding more positive over a resolution) as shares of Nvidia surged over 25% on the back of positive sales for graphics processors and AI chips.
- Leading laggers: Information Technology shares lead the rally, following Nvidia's outperformance, Monolithic Power (MPWR) gained +17%, Synopsys +11% and Advanced Micro Devoices (AMD) +10.3%. Communication Services and Real Estate sectors were distant second and third place.
- Leading laggers: Energy sector shares underperformed, paring early week gains as crude prices reversed (WTI -2.72 at 71.62), Utilities, Health Care and Consumer Staples sectors were not far behind.
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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.