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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 AccessLate Equities Roundup: Hugging Lows Into Month End, FOMC, EU Holiday
- Stocks in the red after the bell - trader notes the S&Ps are "poised to halt a streak of five consecutive monthly gains". Treasury futures marked new lows into the close too amid broad based position squaring ahead of tomorrow's FOMC announcement.
- Note: May Day holiday in Europe tomorrow, closings inconsistent across markets and asset classes (Eurex closed, but not ICE: Gilts re: FI) - that may be exacerbated by month end squaring.
- Currently, DJIA is down 443.13 points (-1.15%) at 37941.46, S&P E-Minis down 55.25 points (-1.07%) at 5091.75, Nasdaq down 205 points (-1.3%) at 15775.96.
- Energy and Consumer Discretionary sectors continued to underperform in late trade. Oil and Gas shares weighed on the Energy sector: Marathon Petroleum -7.66%, Phillips66 -4.76%, Valero -3.490%. Auto and parts makers weighed on the Consumer Discretionary sector: EV maker Tesla -4.98% after gaining 14.27% Monday, Ford -4.04%, GM -3.0% while parts makers Aptiv declined 2.44%, Borg Warner -1.96%.
- Leading gainers: Health Care and Utilities sector shares continued to outperform in late trade: pharmaceuticals and biotech shares supported the former: after boosting revenue outlook for the year, Eli Lilly gained 5.72%, West Pharmaceutical Services +2.24%, AbbVie +0.41%. The Utilities sector was next up with CMS Energy +1.05%, AEP +0.73%, Public Services Enterprises +0.71%.
- Expected corporate earnings announcements after today's close: Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs.
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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.