Free Trial

Stocks Chewing Through Monday Gains in Early Trade

EQUITIES
  • Stocks edging lower from the open here, with the e-mini S&P beginning to chew through the late rally in indices on Monday. The index is now lower by around 7 points or so, but volumes so far are somewhat thinner than the recent average - likely as large players sit on the sidelines ahead of tomorrow's Fed decision.
  • Real estate and materials names are leading losses, with just energy and industrials holding their heads above water.
  • Notable S&P 500 movers include Freeport McMoRan, who are sliding sharply on the back of the weaker copper price today.
  • Gainers include oil & gas and exploration names, with Occidental Petroleum, Marathon and ExxonMobil all higher by 2.5% or more as WTI tops out at a new cycle high.

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.