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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessLate Equities Roundup: Extending Highs
- Stocks extended highs in late Thursday trade, Consumer Discretionary and Consumer Staples outperforming. Currently, the DJIA is up 321.76 points (0.84%) at 38472.78, S&P E-Minis up 51.75 points (1.06%) at 4922, Nasdaq up 190.1 points (1.3%) at 15354.52.
- Consumer Discretionary and Consumer Staples sector shares led gainers, broadline retailers buoyed the former: Etsy +8.01%, Lowe's +3.38%, Tractor Supply +3.14%. Food & beverage and retail distributors supported the former: Brown Forman +3.33%, Altria Group +3.12% Constellation Brands +2.48% while Target gained +3.61%, Dollar Tree +3.36%.
- Notable dynamic: carry-over weakness in regional bank shares helped Treasury futures rally back to late December highs which simultaneously pushed projected rate cut chances higher and underpinned stocks.
- After NY Community Bancorp fell over 40% Wednesday, -8.6% again today after they cut it's dividend and posted a loss on purchase of collapsed Signature Bank shares. Meanwhile KBW Regional Banking Index is down -1.91% -- off lows.
- Off midday lows, large banks still weighed on the Financial sector amid some concern over spreading risks: Zion Bancorp -5.42%, M&T Bank -3.98%, PNC -3.29%.
- Looking ahead: corporate earnings docket after the close: Meta, US Steel, Amazon, Apple, Clorox and Eastman Chemicals.
To read the full story
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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.