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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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Emerging Markets
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Data
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Global Macro
Global Macro
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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.
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Free AccessEquity Roundup: Broad Base Technical Buying
Stocks surge higher - from session lows less than an hour ago to new session highs in last few minutes. Trading desks note surge in European stocks as well: DAX +1.10%, EuroStoxx50 +0.90% - nears March highs.
- No particular headline driver, trading desks citing technical buy trigger, Santa Claus rally comes early this year. SPX scaling off highs currently trading -5.5 (-0.14%) at 3994.75 (nearing first resistance of 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg), Dow components still bid +23.5 (0.07%) at 33773.37, while Nasdaq remains weaker -81.5 (-0.7%) at 11241.18.
- SPX leading/lagging sectors: Energy (+0.84%) and Materials (+0.84%) sectors outperforming: Valero Energy (VLO) +4.42%, EQT Corp +3.03%, Nucor Corp (NUE) +3.41%, Corteva Inc ((CTVA) +3.32%. Laggers: Consumer Discretionary (-1.24%), Real Estate (-1.07%), Information Technology (-0.68%).
- Dow Industrials Leaders/Laggers: Bouncing after heavy selling Fri, Amgen (AMGN) +2.79 at 287.81, Merck (MRK) +2.55 at 100.51, Chevron (CVX) +2.43 at 188.89. Laggers: Microsoft (MSFT) -4.64 at 242.39, Home Depot (HD) -2.17 at 312.77, Apple (AAPL) -1.48 at 148.22.
To read the full story
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Please enter your details below.
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.