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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: Weaker On Month/Quarter End After Cycle Highs
- Stocks are mildly weaker in late Friday trade, well off this morning's new or nearly new cycle highs heading into month/quarter-end positioning that can trigger wild moves in thin trade ahead of the weekend.
- SPX Eminis were a couple points shy of the all time high of 5588.00 from June 20, Nasdaq marked a new all-time high of 18,029.26, while DJIA climbed to 39,436.89 -- still well off mid-May high of 40,003.59. Currently, the DJIA is down 125.74 points (-0.32%) at 39037.43, S&P E-Minis down 12 points (-0.22%) at 5533.75, Nasdaq down 29.9 points (-0.2%) at 17828.8.
- Information technology and Financial sectors continued to outperform in late trade, semiconductor makers supporting the former: Qorvo +2.83%, Qualcomm +2.20%, Applied Materials +2.04%, Microchip Technology +1.91%.
- Regional banks buoyed the Financial sector: Regions Financial +4.27%, Citizens Financial +3.64%, Key Bank +3.23%.
- Meanwhile, Utilities and Consumer Discretionary sectors continued to underperform in late trade, independent power and electricity providers weighing on the former: AES -9.01%, NextEra Energy -4.69%, Constellation Energy -1.36%.
- Athletic apparel makers weighed on Consumer Discretionary: namely Nike -20.11% after poor sales guidance and easing market share. Meanwhile Lululemon Athletica -3.29%.
- Reminder, the week after next kicks off the latest equity earnings cycle.
To read the full story
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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.