Free Trial

Late Equity Roundup: Midday Support Evaporates

US STOCKS

Midday Stock index support wavered in the second half, SPX near lows in late FI trade, Utilities, Consumer Staples and Information Technology sectors weighing.
Currently, SPX eminis trade - 19 (-0.52%) at 3635.25; DJIA -233.25 (-0.8%) at 28993.36; Nasdaq 22.9 (-0.2%) at 10714.98.

  • SPX leading/lagging sectors: Real Estate (+1.41%), Materials (+0.27%) and Financials (+0.05%) outperforming, banks outpacing diversified financials and insurance companies. Laggers: Utilities (-1.13%), Consumer Staples (-0.79%) and Information Technology (-0.65%) underperformed, the latter weighed by hardware makes underperforming semiconductor and software makers.
  • Dow Industrials Leaders/Laggers: Home Depot (HD) +0.23 at 278.56, United Health (UNH) trimmed earlier gains to 508.91 +0.08, Walgreens Boots (WBA) +0.08 at 31.63. Laggers: Nike (NKE) hammered on poor earnings/inventory glut (NKE) -11.69 at 83.64, Boeing (BA) -2.91 at 122.42, McDonalds (MCD) -2.46 at 231.94.

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.