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Late Equity Roundup: Posting Highs, Peak Inflation?

US STOCKS

Well off post-CPI lows, stock indexes continue to make unexpected gains w/ Energy and Financial sector shares outperforming amid chatter the data was indicative of peak inflation. Currently, SPX eminis trade +90.5 (2.52%) at 3679.25 (vs. 3503.25 low); DJIA +840.65 (2.88%) at 30051.89; Nasdaq +209 (2%) at 10626.26.

  • Rebound in stocks as well as Tsys kicked off after better than expected Linker take-up on this morning's first BoE buy-op (Gilt take-up underwhelming). US$ index meanwhile, gapped lower: DXY -1.173 to 112.147 low.
  • SPX leading/lagging sectors: Energy (+4.10%) followed by Financials (+3.97%) and Materials (+2.86%). Laggers: Consumer Discretionary (+0.71%) with autos and retailing underperforming, Consumer Staples (+1.47% and Real Estate (+1.84%) sectors following.
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) adds to yesterday's gains +10.94 at 306.25, McDonalds (MCD) +10.51 at 247.57, United Health (UNH) +9.33 at 509.29. Laggers: Walmart (WMT) +0.38 at 131.55, Nike (NKE) +0.49 at 89.0, Verizon (VZ) +0.56 at 36.24.
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