Free Trial

Late Equity Roundup: Extending Lows

US STOCKS

Well off opening highs, stock indexes extend session lows in late trade - continued
negative reaction to a rise of inflation expectations via U-Mich sentiment reporting. As such, short end rates remain under renewed pressure as chances of a 75bp rate hike in the next two FOMC meeting climbed higher.

  • Health Care and Financials sector continues to outperform while Financials give way to Utilities and Communication Services. Currently, SPX eminis trade -75.75 (-2.06%) at 3606 (vs. 3732.75 high); DJIA -363.21 (-1.21%) at 29674.63; Nasdaq -274.2 (-2.6%) at 10375.23.
  • SPX leading/lagging sectors: Health Care (-0.75%) followed by Utilities (-1.45%) and Communication Services (-1.52%). Laggers: Energy (-3.55%), Consumer Discretionary (-3.40%) and Materials (-3.28%).
  • Dow Industrials Leaders/Laggers: United Health (UNH) making strong gains after earnings beat ($5.79 vs. $5.429 est) currently +5.05 at 514.96, JP Morgan +2.45 at 111.82, Boeing (BA) +1.03 at 133.43. Laggers: Goldman Sachs (GS) -7.35 at 299.72, Home Depot (HD) -6..21 at 276.62, Microsoft (MSFT) -4.99 at 229.25.

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.