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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: IT, REITS Underperforming
- Stocks are mixed in late Friday trade, DJIA shares outperforming at the moment, SPX mildly weaker after topping the midweek contract high $1 to 4934.25, Nasdaq underperforming. Currently, DJIA is up 45.54 points (0.12%) at 38094.93, S&P E-Mini future are down 4 points (-0.08%) at 4919.5, Nasdaq down 39.8 points (-0.3%) at 15471.21.
- Laggers: Information Technology and Real Estate sectors continued to underperform late Friday, chip stocks weighing on the former after seeing strong gains as a whole this week. Intel led laggers as it traded -12.17% after disappointing earning/outlook late Thursday, followed by several downgrades. Elsewhere, KLA Corp -5.72%, Teradyne -4.0%, Applied Materials -3.05%. Real Estate sector weighed by specialized and retail investment trusts: SBA Comm -1.93%, Crown Castle Inc -1.87%, Kimco Realty -1.05%.
- Leading gainers: Health Care and Consumer Discretionary and sectors recovered some ground after Thursday selling. Biotechs and pharmaceuticals buoyed the Health Care sector: BioRad +5.42%, Catalent +4.17%, Danaher +3.77%. Meanwhile, broadline retailers outpaced autos in the second half: Bed&Bath +1.8%, CarMax +1.78%, Home Depot +1%. Auto parts makers buoyed the Discretionary sector earlier: Aptiv +1.8%, Borg-Warner +1.36%. Tesla had recovered slightly earlier after falling over -12% yesterday on dour sales guidance and several downgrades, is now -0.20%.
- Looking ahead: flood of earnings announcements next week: Nucor Corp, Corning, Pfizer, UPS, GM, MSFT, Alphabet, Starbucks, Boeing, Boston Scientific. Mastercard, MetLife and Meta by Wednesday.
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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.