MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: S&P 500 Nearing All Time Highs, Tech Underperforming

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The S&P 500 is trading 1.50% from all time highs, driven by strong gains in Real Estate & Utilities, while Financials, Consumers Staples & Industrials have also contributed.
  • The S&P 500 ex-Magnificent 7 is trading just 0.14% off all time highs.
  • Investors have shifted sectors as they anticipate slower growth and the Fed easing path. Fed Funds Futures are now pricing in 43bps of cuts at the meeting on Wednesday, or roughly a 70% cut of a 50bps rate cut. 

Chart: Magnificent 7 vs S&P 500 Sectors From July 1

88 words

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.
  • The S&P 500 is trading 1.50% from all time highs, driven by strong gains in Real Estate & Utilities, while Financials, Consumers Staples & Industrials have also contributed.
  • The S&P 500 ex-Magnificent 7 is trading just 0.14% off all time highs.
  • Investors have shifted sectors as they anticipate slower growth and the Fed easing path. Fed Funds Futures are now pricing in 43bps of cuts at the meeting on Wednesday, or roughly a 70% cut of a 50bps rate cut. 

Chart: Magnificent 7 vs S&P 500 Sectors From July 1