Free Trial

Late Equity Roundup: IT Leads SPX Near 8W Highs

US STOCKS

Stocks holding sharply higher in late trade - broad based relief rally after October CPI inflation measures cool (0.4% MoM vs. 0.6% est), while rate hike expectations for year end/early 2023 recede.

  • SPX eminis currently trading +173.5 (4.62%) at 3928.75 (mid-September levels); DJIA +1018.97 (3.13%) at 33532.59; Nasdaq +639.1 (6.2%) at 10991.78.
  • SPX leading/lagging sectors: Information Technology (+6.80%) w/ semiconductors outperforming software and hardware makers edged pastConsumer Discretionary (+6.68%) w/ on-line and direct retailers still strong (ETSY +14.40%, Amazon +11.83%, Ebay +8.75%); Real Estate (+6.45%) and Communication Services (+5.77%) follow. Laggers: Consumer Staples (+1.71%), Health Care (+2.11%) and Industrials (+3.68%).
  • Dow Industrials Leaders/Laggers: Home Depot (HD) +22.62 at 309.37, Microsoft (MSFT) +15.06 at 239.57, Goldman Sachs (GS) +16.83 at 378.83. Laggers: Amgen (AMGN) -1.55 at 288.10, McDonalds (MCD) -2.81 at 274.98, Merck (MRK) -0.06 at 101.53.

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.