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Why MNI
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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 AccessMNI ASIA OPEN: Fed Tempering Rate Cut Expectations
Stocks Edge Lower into Friday Close, With Profit-Taking Adding Some Weight
- Stock markets on both sides of the pond ebbed lower into the Friday close, with profit-taking and consolidation putting a lid on the S&P500. Markets sat just below the week's highs into the closing bell, but still held a decent gain on the week, despite fears surrounding China's Evergrande weighing on sentiment.
- The latest reports suggested the Chinese government could be stepping in to ensure housing projects started by the troubled developer are built, stemming the risk of an immediate halt to economic activity. Nonetheless, US-based bondholders were without receipt of a payment due from the company on Thursday, possibly triggering the grace period that comes ahead of default.
- The real estate sector undermined the S&P500, slipping close to 1% while energy and financials extended the week's rally.
- Across Europe, France's CAC-40 and the EuroStoxx50 led losses, edging lower by just under 1% apiece.
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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.