Free Trial

Late Equity Roundup: Energy Shares Lead Rally, Crude Near Highs

US STOCKS

Major indexes trading firmer after the FI close - near second half highs after occurred at the start of Fed Chairman Powell's interview at the Economic Club of Washington. While both rates and equities reversed post-Powell gains, stocks rebounded late as crude climbed over $3bbl, supporting Energy sector stocks.

  • SPX eminis currently trades +1.5 (+0.01%) at 4124; DJIA -79.24 s (-0.23%) at 33809.81; Nasdaq +23.9 (0.2%) at 11910.34.
  • SPX leading/lagging sectors: Energy (+2.53%) outperforms as WTI crude prices climbed to 77.25, O&G shares leading (VLO +4.97%, MPC +4.44%, OXY +3.90%, FANG +3.65%). Information Technology (+1.97%) and Communication Services (+1.72%) follow, the former lead by semiconductor shares (SWKS +12.26%, FISV +7.89%, QRVO +6.85%).
  • Laggers: Consumer Staples (-0.58%), Utilities (-0.42%) and Real Estate (-0.39%), the latter weighed by specialized REITs.
  • Dow Industrials Leaders/Laggers: Microsoft (MSFT) +10.03 at 266.80, Boeing (BA) +5.52 at 212.33, Chevron (CVX) +3.69 at 173.24. Laggers: Home Depot (HD) -4.68 at 324.55, Caterpillar (CAT) -2.13 at 2149.29, McDonalds (MCD) -1.53 at 266.39.

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.