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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Equities Roundup: Real Estate, Consumer Discretionary Sectors Leading

US STOCKS
  • Stocks trading mildly higher at midday, S&P eminis near last Wednesday's high (4830.75) and led by Real Estate and Consumer Discretionary sectors. At the moment: DJIA trades up 75.19 points (0.2%) at 37565, S&P E-Mini future up 1 point (0.02%) at 4826, Nasdaq up 10.9 points (0.1%) at 15071.66.
  • Leading gainers: Real Estate Investment Trusts (REITs), particularly residential supported property shares: UDR +0.84%, Camden Property Trust +0.75%, Equity Residential +0.73%. Meanwhile, auto and parts makers supported the Consumer Discretionary: Tesla +2.31%, Aptiv +0.38%.
  • Laggers: Energy and Utility sectors underperformed in the first half, equipment and services shares pared gains from the prior session: Haliburton -0.81%, Schlumberger -0.53%, , Baker Hughes -0.30%. Independent energy providers weighed on the latter: Xcel Energy -1.04%, Dominion -0.74%, AES Corp -0.52%.
  • Technicals: A bullish theme in S&P e-minis remains intact and yesterday’s fresh trend high reinforces current conditions. The move higher confirms once again a resumption of the uptrend that started Oct 27. The contract has also recently cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. Sights are on 4854.75 next, a Fibonacci projection. On the downside, initial firm support lies at 4715.00, the 20-day EMA.

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