Free Trial

Equities Roundup: Paring Midmorning Gains, IT, Banks Outperform

US STOCKS
  • Stocks are paring gains slightly after recovering from post-NFP data lows, Information Technology and Financial sectors outperforming. At the moment: DJIA is up DJIA up 40.24 points (0.11%) at 37481.09, S&P E-Mini future are up 16 points (0.34%) at 4745.75, Nasdaq up 68 points (0.5%) at 14578.83.
  • Leading gainers: IT and Financial sectors led gainers in the first half, chip stocks buoyed the former amid renewed AI-related demand: Advanced Micro Devices +3.6%, Nvidia +3.06%, Intel a distant third +1.6%. Meanwhile, banks supported Financials for the second day running: KeyCorp +3.91%, Citizens Financial +3.5%, Comerica +3.27%.
  • Reminder, banks lead the next quarterly earnings cycle that starts next week Friday with BlackRock, Bank of America, Wells Fargo, JPMorgan, Citigroup and Bank of NY Mellon.
  • Laggers: Real Estate and Consumer Staples sectors lagged in the first half, estate management shares weighing on the former: CoStar Group -0.52%, CBRE -0.2%. Consumer Staples weighed by household and personal products: Procter & Gamble -0.6%, Church and Dwight -0.45%, Colgate-Palmolive -0.35%.

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.