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Late Session Rebound on Debatable Rate Cut Hopes

US STOCKS
Credit BulletsHomepageCreditEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Stocks have rallied, extending session highs in late trade -- coinciding with a debatable WSJ article that has nevertheless rekindled some hope over a 50bp cut at next week's meeting.
  • Currently, the DJIA trades up 189.37 points (0.46%) at 41052.11, S&P E-Minis up 43 points (0.77%) at 5604.25, Nasdaq up 201.2 points (1.2%) at 17596.48.
  • Communication Services sector shares continue to lead gainers in late trade, interactive media and entertainment gaining with Warner Brothers +872%, Charter Communications +3.23%, Meta (formerly Facebook) +2.84%.
  • Information technology sector has rallied on the back of renewed buying in semiconductor shares: Broadcom +4.54%, Nvidia +3.06%, Hewlett Packard +2.80%.
  • On the flipside, Financials and Real Estate sectors underperformed in the second half, Banks turning lower late with Wells Fargo -3.63%,Charles Schwab -3.03%, US Bancorp -2.23%. Management & development shares weighed on the Real Estate sector: CoStar Group -2.09%, American Tower -1.10%.
  • Of note, pharmaceuticals weighed on the Health Care sector earlier, led by Moderna falling nearly -18% amid plans to cut costs by $1.1B including research. Moderna has recovered some ground, trades -12% late.
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  • Stocks have rallied, extending session highs in late trade -- coinciding with a debatable WSJ article that has nevertheless rekindled some hope over a 50bp cut at next week's meeting.
  • Currently, the DJIA trades up 189.37 points (0.46%) at 41052.11, S&P E-Minis up 43 points (0.77%) at 5604.25, Nasdaq up 201.2 points (1.2%) at 17596.48.
  • Communication Services sector shares continue to lead gainers in late trade, interactive media and entertainment gaining with Warner Brothers +872%, Charter Communications +3.23%, Meta (formerly Facebook) +2.84%.
  • Information technology sector has rallied on the back of renewed buying in semiconductor shares: Broadcom +4.54%, Nvidia +3.06%, Hewlett Packard +2.80%.
  • On the flipside, Financials and Real Estate sectors underperformed in the second half, Banks turning lower late with Wells Fargo -3.63%,Charles Schwab -3.03%, US Bancorp -2.23%. Management & development shares weighed on the Real Estate sector: CoStar Group -2.09%, American Tower -1.10%.
  • Of note, pharmaceuticals weighed on the Health Care sector earlier, led by Moderna falling nearly -18% amid plans to cut costs by $1.1B including research. Moderna has recovered some ground, trades -12% late.