Free Trial

Late Equity Roundup: Covid Spread Saps Risk Appetite

US STOCKS

Major indexes look to finish the session weaker after posting modest gains through midmorning as optimism about China reopening faded as covid infections surged (MILAN REPORTS 50% PASSENGERS WITH COVID IN FLIGHTS FROM CHINA, Bbg). Off noon lows, SPX eminis currently trade -29 (-0.75%) at 3826; DJIA -196.94 (-0.59%) at 33044.11; Nasdaq -102.4 (-1%) at 10250.77.

  • SPX leading/lagging sectors: Energy sector support over last few sessions evaporated as crude slipped lower (WTI -0.67 at 78.86), sector -1.41% w/ O&G refiners underperforming (EQT -6.49%, APA -3.99%, CTRA -3.85%). Information Technology (-1.01%) and Communication services (-1.00%) followed, software/service providers outperformed hardware and equipment makers (WDC -2.86%, AAPL -2.25%)
  • Leaders: Utilities (+1.04%), Financials (+0.28%) outperformed, banks trading better (JPM +1.03%, JPM +0.90%, WFC +0.52%).
  • Dow Industrials Leaders/Laggers: JPM +1.25 at 132.99, JNJ -0.08 at 177.35, United Health (UNH) -0.18 at 531.81. Laggers: Apple (AAPL) -3.03 at 127.00, Home Depot (HD) -2.63 at 316.92, Salesforce.com (CRM) -2.40 at 128.26.

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.