BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

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

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 2.60% Aug-34 Bund Due Wednesday

Ita-coin Nowcast Negative For Second Month

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: Off New Highs, DJIA Underperforming

US STOCKS
Credit BulletsHomepageCreditEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Stocks are mixed in late Monday trade, the DJIA weaker after climbing to new all-time highs in the first half. S&P Eminis and Nasdaq also marked new highs before profit taking trimmed gains in the second half. Trading desks pointed to reversal in JPM shares after CEO Jamie Dimon stated stock buy-backs would be muted at current levels.
  • Currently, the DJIA is down 168.29 points (-0.42%) at 39835.48 (40073.06 high), S&P E-Minis up 6 points (0.11%) at 5333 (5348.25 high), Nasdaq up 108.2 points (0.6%) at 16793.53 (16804.15 high).
  • IT and Communication Services sectors led gainers in late trade, semiconductor makers continued to buoy the former with Teradyne +5.36%, Applied Materials +3.54%, Micron +3.24%. Media and entertainment shares supported the Communication Services sector: Netflix +3.29%, Live Nation Entertainment +2.45%, Take Two Entertainment +1.68%.
  • Laggers: Financials and Energy sectors underperformed in late trade, banks weighing on the former: JPM -3.57% after Dimon comments as noted, Comerica -1.71%, Truist Financial -1.63%. Equipment and services shares weighed on the latter: Schlumberger -1.09%, Baker Hughes -0.97%, Halliburton -0.40%.
  • Reminder: a few late cycle corporate earnings expected this week: Zoom Video Conf and Palo Alto Networks after today's close. Later in the week: Macy's Inc, Lowe's Inc, AutoZone Inc, Target, Petco, Analog Devices, TJX, Synopsys, Nvidia, Autodesk, Dollar Tree Inc.
212 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 are mixed in late Monday trade, the DJIA weaker after climbing to new all-time highs in the first half. S&P Eminis and Nasdaq also marked new highs before profit taking trimmed gains in the second half. Trading desks pointed to reversal in JPM shares after CEO Jamie Dimon stated stock buy-backs would be muted at current levels.
  • Currently, the DJIA is down 168.29 points (-0.42%) at 39835.48 (40073.06 high), S&P E-Minis up 6 points (0.11%) at 5333 (5348.25 high), Nasdaq up 108.2 points (0.6%) at 16793.53 (16804.15 high).
  • IT and Communication Services sectors led gainers in late trade, semiconductor makers continued to buoy the former with Teradyne +5.36%, Applied Materials +3.54%, Micron +3.24%. Media and entertainment shares supported the Communication Services sector: Netflix +3.29%, Live Nation Entertainment +2.45%, Take Two Entertainment +1.68%.
  • Laggers: Financials and Energy sectors underperformed in late trade, banks weighing on the former: JPM -3.57% after Dimon comments as noted, Comerica -1.71%, Truist Financial -1.63%. Equipment and services shares weighed on the latter: Schlumberger -1.09%, Baker Hughes -0.97%, Halliburton -0.40%.
  • Reminder: a few late cycle corporate earnings expected this week: Zoom Video Conf and Palo Alto Networks after today's close. Later in the week: Macy's Inc, Lowe's Inc, AutoZone Inc, Target, Petco, Analog Devices, TJX, Synopsys, Nvidia, Autodesk, Dollar Tree Inc.