Free Trial

Equity Roundup: Moderate Gains, Home Depot Leads DJIA

US STOCKS
Stocks holding moderate gains, SPX eminis near midday highs as markets digest headlines from early NATO summit regarding Russia war in Ukraine. While early headlines that NATO was concerned over potential use of chemical, biological or nuclear weapons by Russia were disconcerting, renewed optimism over peace-talks underpinned stocks ahead midday.
  • SPX eminis traded +44.0 at 4491.5 vs. 4497.75 highs, focus on key resistance of 4514.75 (Mar 22 high), a breach of which viewed as an important short-term bullish development and an extension would open 4578.50, the Feb 9 high.
  • Dow trades +261.53 (0.76%) at 34619.89, and Nasdaq +166.9 (1.2%) at 14089.41.
  • SPX leading/lagging sectors: Information Technology sector (+2.0%) lead by surge in semiconductors (+5.65%) outpacing Hardware (+1.07%) and Software (+0.69%). Notable mover: Nvidia (NVFA) +9.95% to 281.85, Intel (INTC) +6.06% at 51.2%. Materials sector (+1.48%) lead by Metals/Mining and Construction (+1.61-1.59%).
  • Laggers: Real Estate sector (+.13%) and Consumer Staples (+0.37%), household and personal products underperforming.
  • Dow Industrials Leaders/Laggers: United Health leading: +11.83 at 515.6; McDonalds (MCD) a distant second +3.33 at 239.45.
  • Laggers: Home Depot (HD) continues to sell off -1.17 at 315.88. Incidentally, Home depot issued $4B in debt on the day: $500M 3Y +40, $750M 5Y +60, $1.25B 10Y +95, $1.5B 30Y +120.

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.