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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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Free AccessLate Equity Roundup: Semiconductor Makers Leads Monday Rebound
- Stocks are firmer late Monday, still off last week's cycle highs amid generally optimistic trade after President Biden's Sunday afternoon annc to drop out of the 2024 presidential race. Currently, the DJIA is up 134.38 points (0.33%) at 40424.83, S&P E-Minis up 60.25 points (1.08%) at 5613.75, Nasdaq up 305 points (1.7%) at 18031.17.
- Information Technology and Communication Services sectors continued to outperform in late trade, semiconductor makers supporting the IT sector following Friday losses tied to CrowdStrike outages: KLA Corp +5.81%, Lam Research +5.64%%, ON Semiconductor +5.43%. Incidentally, CrowdStrike lost another 12.88% in late session trade.
- Communication Services were buoyed by interactive media and entertainment shares: Netflix +3.25%, Electronic Arts +2.68%, Google +2.63. Conversely, weaker telecom stocks leavened Comm Services gains with Verizon -6.34% after reporting flat earnings, AT&T -2.8%.
- Meanwhile, Energy and Consumer Staples sector shares underperformed in the second half, oil and gas shares weighing on the former: Occidental -2.57%, Halliburton -2.11%, Devon Energy -2.01%. Meanwhile, food and beverage shares weighed on the Consumer Staples sector: Hormel -1.70%, Monster Beverage -1.51%, JM Smucker -1.47%.
- Reminder, Monday afternoon earnings announcements from Nucor Corp, W R Berkley, Alexandria Real Estate, Crown Holdings and Cadence Design Systems.
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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.