NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

Machine Orders Data Points To Slow And Gradual Recovery

Unemployment Steady; Projected to Rise Gradually

MNI: EUROZONE MAR UNEMPLOYMENT RATE 6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Late Equities Roundup: Late Chip Rally Boosts IT, Energy Reverses

US STOCKS
Credit BulletsHomepageCreditEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Stocks have have recovered from midday selling in late trade, potential for whippy month end trade ahead. At the moment, DJIA trades down 4.64 points (-0.01%) at 38940.51, S&P E-Minis up 15 points (0.3%) at 5095.5, Nasdaq up 93.8 points (0.6%) at 16039.99.
  • Leading Gainers: Energy sector reversed earlier lead as crude support evaporated (WTI -.50 at 78.04), replaced by Real Estate and Information Technology sectors. Investment trusts lead the Real Estate sector for the second day running, particularly Office and Specialized REITS: Iron Mountain +3.97%, Alexandria Real Estate +3.81%, American Tower +3.43%.
  • Strong bid for semiconductor stocks supported the IT sector in late trade: Advanced Micro Devices +8.23%, Enphase +6.17%, Skyworks Solutions +2.76% while Nvidia climbed 2.25%.
  • Laggers: Health Care and Financial sectors continued to underperform in late trade, equipment and services shares weighed on the Health Care sector: GE HEalthcare -3.19%, Molina Healthcare -2.45% while Baxter Int traded -2.15%. Insurance names weighed on the Financials sector: Marsh & McClennan -1.92%, Arch Capital -1.77%, Globe Life -1.57%.
  • Looking ahead: corporate earnings after the close include: Autodesk Inc, Hewlett Packard Enterprises, Dell Technologies and B Riley Financials.
183 words

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.
  • Stocks have have recovered from midday selling in late trade, potential for whippy month end trade ahead. At the moment, DJIA trades down 4.64 points (-0.01%) at 38940.51, S&P E-Minis up 15 points (0.3%) at 5095.5, Nasdaq up 93.8 points (0.6%) at 16039.99.
  • Leading Gainers: Energy sector reversed earlier lead as crude support evaporated (WTI -.50 at 78.04), replaced by Real Estate and Information Technology sectors. Investment trusts lead the Real Estate sector for the second day running, particularly Office and Specialized REITS: Iron Mountain +3.97%, Alexandria Real Estate +3.81%, American Tower +3.43%.
  • Strong bid for semiconductor stocks supported the IT sector in late trade: Advanced Micro Devices +8.23%, Enphase +6.17%, Skyworks Solutions +2.76% while Nvidia climbed 2.25%.
  • Laggers: Health Care and Financial sectors continued to underperform in late trade, equipment and services shares weighed on the Health Care sector: GE HEalthcare -3.19%, Molina Healthcare -2.45% while Baxter Int traded -2.15%. Insurance names weighed on the Financials sector: Marsh & McClennan -1.92%, Arch Capital -1.77%, Globe Life -1.57%.
  • Looking ahead: corporate earnings after the close include: Autodesk Inc, Hewlett Packard Enterprises, Dell Technologies and B Riley Financials.