MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Late Equities Roundup: Late Profit Taking

US STOCKS
  • Stocks are still bid but off midday highs in late trade, profit taking in IT stocks not surprising after S&P Eminis managed to climb to a new all-time high of 5322.75 earlier. Currently, S&P E-Minis trades up 18.5 points (0.35%) at 5304.75, Nasdaq up 37.1 points (0.2%) at 16406.99, the DJIA up 285.89 points (0.72%) at 39798.07.
  • Leading Gainers: Industrials continued to lead while Financials outpaced the Information Technology sector in the second half. Construction and engineering shares continued to buoy Industrials: Stanley Black & Decker +3.32%, Masco Corp +3.0%, Pentair +2.76%. Banks led the Financials sector: Truist Financial +2.85%, Citizens Financial +2.15%, Comerica +2.11%.
  • Laggers: Communication Services and Real Estate sectors underperformed in late trade, media shares weighed on the former with Paramount -4.64% after rallying over 11% Wednesday on $11B bid from Apollo for Hollywood Studios. Other laggers included Google -0.82% while Comcast slipped -0.90%. Real Estate investment trust weighed on the latter, particularly Health Care and Specialized REITs: Welltower -1.24%, Ventas -0.64%, Equinix -1.87%.
  • Emini technicals: The trend condition in S&P E-Minis remains bullish and this week’s extension reinforces this theme. The break of 5257.25, Mar 8 high, confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. MA studies are in a bull-mode position reflecting positive market sentiment. Sights are on 5370.81, the top of a bull channel drawn from the Jan 17 low. Initial firm support is at 5185.88, the 20-day EMA.
Credit BulletsHomepageCreditEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Credit BulletsHomepageCreditEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.