MNI BRIEF: ECB Cut On Disinflationary Process Trust-Centeno

CANADA MAY JOBS +26.7K VS FORECAST +20K, PRIOR +90.4K

MNI China Daily Summary: Friday, June 7

MNI BRIEF: Mexico Inflation 4.69% In May, Below Consensus

MNI BRIEF: China May Forex Reserves Rise On Weakened Dollar

MNI BRIEF: China Service Trade Grows Rapidly, Deficit Expands

MNI: US APR CONSUMER CREDIT +$6.4B

MNI: BAKER HUGHES US RIG COUNT 594; OIL RIGS 492; GAS RIGS 98

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Late Equity Roundup, SPX Mildly Weaker as Tsy Yields Surge Higher

US STOCKS
Still weaker, stocks managed to bounce after extending session lows after Fed Chair Powell made hawkish comments from early afternoon NABE conf: willingness to make "more than 25bp" hikes at each meeting in order to keep inflation in check if needed.
  • Even higher crude levels (WTI +7.92 at 112.62) did little to dampen share prices while Tsy yields continued to climb to levels not seen since Aug 2019: 30YY hit 2.5531% late, equity index markets rebounded to mildly weaker levels in comparison:
    • SPX emini traded -14.5 (-0.33%) at 4439.5, while Dow trades -294.52 (-0.85%) at 34463.4, and Nasdaq -107.3 points (-0.8%) at 13788.81.
  • SPX leading/lagging sectors: Bounce in crude a tailwind for Energy sector (+4.03%) with multiple petroleum drillers, manufacturers, pipelines trading higher. Materials and Utilities sectors distant second (both appr +.64%), mining, drilling and energy transmission outperforming.
  • Laggers: Communication Services (-1.27%) with media and entertainment lagging amid reports of Apple, Amazon and Google experiencing outages; Consumer discretionary (-1.07%) - outperforming autos tempered by weaker retailing, consumer services and durables.
  • Dow Industrials Leaders/Laggers: Caterpillar (CAT) +2.83 at 223.74 and Chevron (CVX) +3.62 at 165.35. Laggers: Home Depot (HD) -12.0 at 328.74; Boeing (BA) -6.61, 186.22 under pressure after 737 crash in Guangxi province, China.
HomepageEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.