Free Trial

Late Equity Roundup: Communication Services, IT Broadly Weaker

US STOCKS

Stocks continued to reverse midday gains Wednesday, back near early session levels after the FI close, Communication Services and IT weighing on SPX eminis currently trading -32.5 (-0.84%) at 3837.25; DJIA -46.01 (-0.14%) at 31789.1; Nasdaq -230.6 (-2.1%) at 10967.83.

  • SPX leading/lagging sectors: Laggers: Communication Services (-4.63%) weighed by interactive media/services: Google -8.74%, META -6.48%; Information Technology (-2.27%) follows w/ software and services underperforming -- Microsoft hammered despite beating earnings est ($2.35 vs. 2.257 est). Leaders: Energy (+1.22%) lead by oil and gas names (Haliburton/HAL +4.29%; Hess/HES +5.16%, Occidental/OXY +2.00%) as crude oil rebounds (WTI +2.55 at 87.99). Health Care (+0.96%) and Consumer Staples (+0.53%) follow.
  • Dow Industrials Leaders/Laggers: Visa (V) +8.15 at 202.53, Amgen (AMGN) +6.17 at 266.16, 3M (MMM) +3.61 at 122.11. Laggers: Microsoft (MSFT) -17.63 at 233.07, Boeing (BA) -13.77 at 132.88, Salesforce.com (CRM) -4.99 at 160.28.

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.