Free Trial

Late Equity Roundup: Near Highs, Energy Sector Strong

US STOCKS

Stocks trading firmer, near late session highs, risk-on tone gathers momentum with 30YY back up to 3.2032% ahead Fri's June employment data. SPX eminis currently trading +61.5 (1.6%) at 3909.75; DJIA +358.03 (1.15%) at 31394.56; Nasdaq +266.7 (2.3%) at 11628.23.

  • Support for stocks tracked strong bid for crude amid supply concerns, WTI back over 100.0 at 102.75 +4.22. Reminder, next earnings cycle that kicks off next week.
  • SPX leading/lagging sectors: Energy sector surges higher (+4.01%) on back of rebound in crude, Marathon, Diamondback, Valero, Schlumberger all leading rally. Consumer Discretionary (+2.6) lead by autos: Borg Warner, Aptiv, Ford and GM outpacing Tesla for once. Laggers: Utilities (+0.12%), Consumer Staples (+0.16%) weighed by weaker household and personal products, followed by Real Estate (+0.18%).
  • Dow Industrials Leaders/Laggers: Caterpillar (CAT) rebounds +8.13 at 180.44, Goldman Sachs (GS) +5.24 at 299.00, and Boeing (BA) +4.30 at 141.08. Laggers: United Health (UNH) -2.10 at 513.19, Verizon (VZ) -0.68 at 50.83, Coca-Cola (KO) -0.32 at 63.09, and Merck (MRK) -0.17 at 92.96.

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.