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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessLate Equity Roundup, Near Late Highs
- Combination of factors buoyed stocks: broad based share buy backs ("Alibaba boosted its share buyback program to $25 billion from $15 billion" WSJ), renewed support from China to support economy and markets, and peripherally, weaker crude: WTI off midday lows at $111.76 (loosely tied to lack of unified EU ban on Russia oil imports).
- SPX leading/lagging sectors: Consumer Discretionary (2.66%) driven by surge in autos +7.18%; Communication sector (+2.25%) with media and entertainment (+2.58%) leading. Financials sector (1.75% moved past Information Technology (1.60%) in the second half, Banks outperforming diversified financials and insurance names.
- Laggers: As noted, lack of follow-through in crude weighing on Energy sector (-0.62%), petroleum drillers, manufacturers, pipelines trading lower but off lows.
- Dow Industrials Leaders/Laggers: Boeing (BA) holding near highs at 190.80 after Mon's sell-off on China 737 crash. Cloud-based software company Salesforce.Com (CRM) stronger but off highs (+4.38 at 218.14), Microsoft (MSFT) a close second (+4.47 at 303.64).
- Laggers: United Health -1.50 at 506.16 and Caterpillar -0.93 at 222.78.
To read the full story
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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.