CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Equity Roundup: Holding Modest Gains, Strong GS Q2 Earnings

US STOCKS

Stocks trading firmer ahead midday SPX eminis near the middle of a narrow session range is currently trading +29.75 (0.77%) at 3895; DJIA +152.22 (0.49%) at 31440.61; Nasdaq +160.8 (1.4%) at 11613.47.

  • Second week of Q2 earnings annc's: large beat for Goldman Sachs at $7.73 vs. $6.647 est, Charles Schwab beat: $0.97 vs. $0.902 est, Bank of America miss: $0.73 vs. $0.746 est.; Synchrony (SYF; $1.60 vs. $1.445 est) and Prologos (PLD; $1.11 vs. $1.108 est) also outpaced. IBM reports after the close: $2.288 est.
  • Technicals: S&P E-Minis have started the week on a firmer note, extending Friday’s gains and the rebound from last Thursday's low of 3723.75. Short-term gains are considered corrective - for now. Resistance to watch is at 3950.00, the Jun 27 high and the 50-day EMA, at 3956.84. A clear breach of this zone would strengthen a bullish case. On the downside, a resumption of weakness and a break of 3923.75 low, would open key support at 3639.00, Jun 17 low.
  • SPX leading/lagging sectors: energy sector outperforming (+2.70%) with crude rallying (WTI +4.36 at 101.95), Consumer Discretionary a close second (+2.50%) with autos/auto parts outperforming: BorgWarner (BWA) +3.95%, Tesla (TSLA) +3.47% -- Tesla earnings this Wednesday. Laggers: Utilities (-0.99%), Health Care (-0.74%) and Real Estate (-0.51%).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +7.37 at 301.24, Salesforce Inc (CRM) +4.85 at 172.23. Laggers: United Health (UNH) -4.14 at 525.61, JNJ -2.35 at 175.88, Amgen (AMGN) -2.11 at 246.58.
  • Earnings expected Tuesday: JNJ and Netflix.
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.