Free Trial
USDCAD TECHS

Impulsive Rally Extends

US TSYS

Late Eurodollar/SOFR/Treasury Option Roundup

EURJPY TECHS

Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Late Equity Roundup, Strong Relief Rally, MSFT Surge

US STOCKS
More of a relief rally than a risk-on move as stocks continue to gain after the FI close. SPX well through first resistance of 4016.25 ( July 22 high), ESU2 currently 4028.75. Stocks gained momentum amid no definitive hawkish guidance for Sep as Fed remains data dependent, soft landing still a significant challenge. Chair Powell says he does not see the US currently in a recession with "too many areas of the economy that are performing too well and of course" namely the labor market.
  • Currently, DJIA +463.02 (1.46%) at 32229.85; Nasdaq +473.4 (4.1%) at 12036.55.
  • Earnings after the close: Meta $2.541 est, Equinix (EQIX) $5.032 est, NCR Corp $0.604, Qualcomm $2.862 est, ETSY $0.609 est, Raymond James Fncl $1.633 est. Heavy earnings slate continues Thursday.
  • SPX leading/lagging sectors: Communication Services (+5.32%) lead by interactive media/entertainment: Google +8.3%, Meta +6.98%, Match Grp +5.5%. Information Technology (+4.63%) and Consumer Discretionary (+4.22%) follow, autos leading the latter, Tesla outperforming +6.31%. Laggers:Utilities (+0.17%), Real Estate (+0.63%), Health Care (+0.88%).Dow Industrials Leaders/Laggers: Microsoft (MSFT) +17.21 at 269.11, Salesforce.Com (CRM) +11.70 at 182.16, Goldman Sachs (GS) +7.68 at 326.23. Laggers: Visa (V) -1.34 at 211.15, 3M (MMM) -1.12 at 139.63, Travelers (TRC) -1.06 at 159.80.
197 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
More of a relief rally than a risk-on move as stocks continue to gain after the FI close. SPX well through first resistance of 4016.25 ( July 22 high), ESU2 currently 4028.75. Stocks gained momentum amid no definitive hawkish guidance for Sep as Fed remains data dependent, soft landing still a significant challenge. Chair Powell says he does not see the US currently in a recession with "too many areas of the economy that are performing too well and of course" namely the labor market.
  • Currently, DJIA +463.02 (1.46%) at 32229.85; Nasdaq +473.4 (4.1%) at 12036.55.
  • Earnings after the close: Meta $2.541 est, Equinix (EQIX) $5.032 est, NCR Corp $0.604, Qualcomm $2.862 est, ETSY $0.609 est, Raymond James Fncl $1.633 est. Heavy earnings slate continues Thursday.
  • SPX leading/lagging sectors: Communication Services (+5.32%) lead by interactive media/entertainment: Google +8.3%, Meta +6.98%, Match Grp +5.5%. Information Technology (+4.63%) and Consumer Discretionary (+4.22%) follow, autos leading the latter, Tesla outperforming +6.31%. Laggers:Utilities (+0.17%), Real Estate (+0.63%), Health Care (+0.88%).Dow Industrials Leaders/Laggers: Microsoft (MSFT) +17.21 at 269.11, Salesforce.Com (CRM) +11.70 at 182.16, Goldman Sachs (GS) +7.68 at 326.23. Laggers: Visa (V) -1.34 at 211.15, 3M (MMM) -1.12 at 139.63, Travelers (TRC) -1.06 at 159.80.