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Stocks More Mixed as Bounce Fades

EQUITIES
  • Equity markets started the session well, with a strong finish in the Asia-Pac region feeding into a positive European morning. This price action soon faded upon the opening bell, however, with reports of a fresh wave of website outages (reminiscent of the Fastly outage in early June) knocking a number of popular websites offline.
  • This sent stocks slightly lower, but losses were muted with the S&P500 trading either side of unchanged after the London close.
  • The stocks that drove the bounce off Monday's lows, namely the energy and financials sectors, lagged throughout Thursday trade and were the poorest performers in the S&P 500.
  • Earnings remain a key market driver, with some of the poorest performers in the S&P 500 including Southwest Airlines and Texas Instruments slipping after their reports. At the other end of the table, Domino's Pizza traded with gains of over 10% following their strong turnout.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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