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Why MNI
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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 Equity Roundup: Drifting Higher, Consumer Sectors Outperform
Stocks continue to gradually extend gains into the FI close, support in SPX eminis lead by Consumer Staples and Discretionary sectors. Currently, SPX eminis trades +19.5 (0.46%) at 4300.75; DJIA +157.5 (0.47%) at 33918.07; Nasdaq +82.6 (0.6%) at 13129.86.
- Weak economic data (NY Fed Empire State index -31.5 vs. 5.0 est - largest monthly decline since May '20; NAHB Housing Mkt Index 49 vs. 55) continues to be good new for stocks as it tempers more aggressive rate hike exp for Sep and on.
- While the earnings cycle winds down, some big retailer earnings remain on tap: Walmart (WMT) early Tuesday: $1.632 est; Home Depot (HD) early Tuesday: $4.983 est; Target (TGT) early Wednesday: $0.725 est; Lowe's Group (LOW) early Wednesday: $4.611 est; Tech: Cisco (CSCO) early Wednesday: $0.816 est; Applied Materials (AMAT) $1.77 est early Thu.
- SPX leading/lagging sectors: As noted, Consumer Staples (+1.03) and Discretionary (+0.72%) outperforming, auto makers leading the latter w/ Tesla +3.43%. Laggers: Energy (-2.29%) as crude levels hit on hopes of Iran/EU nuclear deal in the short term, Materials (-0.15%) and Financials (+0.19%).
- Dow Industrials Leaders/Laggers: Visa (V) +$4.79 at 216.12, Goldman Sachs (GS) +3.32 at 357.14 and Disney (DIS) $2.87 at 124.44. Laggers: Chevron (CVX) -3.23 at 156.62, Caterpillar (CAT) -1.17 at 195.67, 3M (MMM) -0.69 at 151.55.
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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.