DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equity Roundup: On the Downswing, SEC Reg Talk

US STOCKS
Stocks weaker, near recent midday lows w/ SPX emini futures ESM2 -45.5 (-1.09%) at 4113.75. Already trading mildly weaker through the first half, major indexes extended lows as SEC Chairman Gary Gensler discussed possible new market regulation at a Piper Sandler conference, seeking to "assure full competition, best prices for retail investors" WSJ reported.
  • Other headline news included profit warnings for Credit Suisse overnight that may trigger more lay-offs (this a day after execs looked to expand managing directors at the bank by appr 40. Unverified market chatter over potential purchase of CS by State Street.
  • Meanwhile, Twitter bounce after headline will comply with Elon Musk request for more acct spam data.
  • Technicals: current consolidation appears to be a bull flag, reinforcing short-term bullish conditions. Attention on 50-day EMA at 4178.15 today where clear break would strengthen a bullish outlook and open 4303.50, the Apr 26/28 high. Gains are still considered corrective and the primary trend direction is down. First support to watch is 3960.50, May 26 low.
  • SPX leading/lagging sectors: Energy sector continues to gain (+15%) underpinned by surge in crude (WTI +3.20 at 122.61). Laggers: Real Estate (-2.05%) and Materials (-2.02%).
  • DJIA -320.72 (-0.97%) at 32861.68; Nasdaq -101.4 (-0.8%) at 12073.37.
  • Dow Industrials Leaders/Laggers: Caterpillar (CAT) +4.72 at 231.82, Chevron bid (CVX) +2.06 at 182.26. Laggers: United Health Care (UNH) -6.9 at 490.20, Goldman Sachs (GS) -6.41 at 315.10, Home Depot (HD) -3.12 at 298.65
EquitiesHomepageAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.