MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Equity Roundup: Bullish Conditions Reinforced For Moment

US STOCKS
Stock indexes trading mixed, at/near session highs at midday, Dow lagging. While Tsys hold weaker/near lows following SF Fed Pres Daly stating the Fed's "work is far from done" and Chicago Fed Evans leaving door open for possible 75bp hike in September, stocks trade higher as geopol tension over House speaker Pelosi visit to Asia ease slightly as she lands safely in Taiwan.
  • As far as mkts go, risk-off absent despite China defense officials calling for military drills around Taiwan during Sp Pelosi visit). Currently, SPX eminis trade +21 (0.51%) at 4141.25; DJIA -32.49 (-0.1%) at 32764.41; Nasdaq +124.8 (1%) at 12492.82.
  • Flood of earnings releases continues: Caterpillar (CAT) beat: $3.18 vs. $3.026 est, Marathon Petroleum (MPC) beat: $10.61 vs. $8.723 est, Marriott (MAR) beat: $1.80 vs. $1.571 est, Uber miss: -$0.51 vs. -0.254.
  • After the close: Gilead Sciences (GILD) $1.511 est, Pioneer Natural Resources (PXD) $8.856 est, Advanced Micro Devices (AMD) $1.045 est, Occidental Petroleum (OXY) $3.071 est, Chesapeake Energy (CHK) $3.823 est, Starbucks (SBUX) $0.759 est.
  • Technicals: Bounce off lows reinforcing bullish conditions. This maintains the current bullish price sequence of higher highs and higher lows. Potential is for a climb towards 4204.75 next, the May 31 high and the next key resistance. On the downside, initial trend support has been defined at 3913.25, the Jul 26 low. A break would highlight a possible early reversal signal.
  • SPX leading/lagging sectors: Consumer Discretionary (+0.91) as autos outpace consumer services and retailing, Communication Services (+0.87%), Utilities (0.83%). Laggers: Consumer Stales (-0.04%), Industrials (+0.12%) and Financials (+0.16%).
  • Dow Industrials Leaders/Laggers: Recovering some ground after Tue's sell-off United Health (UNH) +3.62 at 539.0, Travelers (TRV) +2.68 at 158.95, Salesforce.COM (CRM) +1.30 at 184.29. Laggers: Caterpillar (CAT) -6.52 at 188.34, Visa (V) -3.51 at 207.85.
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.