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Free AccessLate Equity Roundup: Holding Highs for Week
Stocks look to finish out the week strong, SPX eminis near 5% higher for the week as risk appetite improved following Wed's May FOMC minutes release that showed a flexible Fed and no discussion of larger rate hikes. SPX emini futures currently +71.55 (1.76%) at 4127.5 -- makes it +4.86% for the week.
- Technicals for SPX emini: ESM2 through 20-day EMA of 4047.83 as well as May 9 high of 4099.0 w/ focus on 4191.98 50-day EMA.
- SPX leading/lagging sectors: Information Technology sector extends gains (+2.57%) as hardware and semiconductor shares rally for second day. Real Estate (+2.59%) outpaces Consumer Discretionary sector (+2.33%) as autos remain strong (Tesla +6.23% at 751.80). Laggers: Consumer Staples (+0.55%) as food/beverage and tobacco underperform. Followed by Utilities (+0.80%) and Financials (+0.83%).
- DJIA +351.13 (1.08%) at 32988.66; Nasdaq +303.4 (2.6%) at 12043.95.
- Dow Industrials Leaders/Laggers: Microsoft (MSFT) +54.92 at 270.82, Apple (AAPL) +4.41 at 148.63 and Boeing (BA) +3.18 at 130.91. Note: United Health Care (UNH) rallied from -4.62 earlier to +0.93 at 503.16. Laggers: JNJ -0.08 at 179.38, Merck (MRK) +0.03 at 92.34.
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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.