Free Trial

Equity Roundup: Real Estate, Financials Underperforming

US STOCKS

Stocks trade weaker in the second half, reversing early gains and back near late Monday highs amid ongoing concern over persistent inflation and hawkish Fed policy. Real Estate and Financials shares underperform. Currently, SPX eminis trade -36.75 (-0.98%) at 3695.5; DJIA -187.27 (-0.61%) at 30335.41; Nasdaq -129.2 (-1.2%) at 10643.57

  • SPX leading/lagging sectors: Laggers: Real Estate (-2.63%) weighed by Vornado (VND) -5.31%, Prologis (PLD) -4.16%, Boston Properties (BXP) -4.02%. Financials (-2.07%) next up with banks underperforming diversifieds and insurance names.
  • Leaders: Energy (+2.95) outperformed as crude levels firmed (WTI +3.12 at 95.94), Communication Services (-0.33% a distant second followed by Consumer Staples (-0.56%).
  • Dow Industrials Leaders/Laggers: Chevron (CVX) +5.58 at 168.30, Travelers (TRV) +4.80 and Procter Gamble (PG) +1.77 after beating earnings est: $1.57 vs. $1.547 est. Laggers: Home Depot (HD) -11.26 at273.80, United Health (UNH) -5.24 at 516.97; and Goldman Sachs (GS) -4.89 at 308.96.

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.