MNI POLICY: Cracks On MPC But Gradualism Holds, Bailey Nuanced

MNI BRIEF: Fed's Goolsbee Sees Rates 'A Fair Bit Lower'

MNI: BLS: NET REVISIONS TO JULY, AUG PAYROLLS +72K

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds

Economic Data Calendar

CANADA SEP IVEY PURCHASING MANAGERS INDEX 53.1 SA

EZ/UK Bond Supply Calendar: BoE APF Monday; EU Syndication

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

US STOCKS: Equities Roundup: Post-Data Gains Tempered Ahead Weekend

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks held moderately higher by midday, off Friday morning's post-data highs as longs took profits ahead of the weekend. Stocks gapped higher after this morning's stronger than expected jobs report for September (+254k vs. +150k est) a dip in the unemployment rate to 4.1% from 4.2%, while wage growth exceeded estimates.
  • Recriminations whether the Fed should have cut 50bp in September aside, the data eased concerns of an economic slowdown, which in turn weighed heavily on Treasuries and yield curves as front end rates repriced to approximately 50bp in cuts by year end from over 75bp earlier this week.
  • Currently, the Dow trades up 136.71 points (0.33%) at 42147.92, S&P E-Minis up 21 points (0.37%) at 5770.5, Nasdaq up 113.2 points (0.6%) at 18031.23
  • Leading gainers included Financial and Energy sectors, banks underpinning the former in the first half: M&T Bank +3.14%, Wells Fargo +2.71%, Huntington Bancshares +2.19%. Oil & gas stocks continued to buoy the Energy sector as Mideast tensions supported crude ahead of the weekend (WTI marking a session high of 75.00 Friday vs. Tuesday's low of 66.42): Diamondback Energy +2.76%, Williams +2.21%, Exxon Mobil +1.35%.
  • On the flipside, Real Estate and Utilities sectors underperformed in the first half, specialized REITS weighing on the former: Extra Storage -3.72%, American Tower -3.19%, Crown Castle -3.18%. Meanwhile, electricity providers weighed on the Utliity sector: Pinnacle West -2.17%, Xcel Energy -2.07%.
226 words

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.
  • Stocks held moderately higher by midday, off Friday morning's post-data highs as longs took profits ahead of the weekend. Stocks gapped higher after this morning's stronger than expected jobs report for September (+254k vs. +150k est) a dip in the unemployment rate to 4.1% from 4.2%, while wage growth exceeded estimates.
  • Recriminations whether the Fed should have cut 50bp in September aside, the data eased concerns of an economic slowdown, which in turn weighed heavily on Treasuries and yield curves as front end rates repriced to approximately 50bp in cuts by year end from over 75bp earlier this week.
  • Currently, the Dow trades up 136.71 points (0.33%) at 42147.92, S&P E-Minis up 21 points (0.37%) at 5770.5, Nasdaq up 113.2 points (0.6%) at 18031.23
  • Leading gainers included Financial and Energy sectors, banks underpinning the former in the first half: M&T Bank +3.14%, Wells Fargo +2.71%, Huntington Bancshares +2.19%. Oil & gas stocks continued to buoy the Energy sector as Mideast tensions supported crude ahead of the weekend (WTI marking a session high of 75.00 Friday vs. Tuesday's low of 66.42): Diamondback Energy +2.76%, Williams +2.21%, Exxon Mobil +1.35%.
  • On the flipside, Real Estate and Utilities sectors underperformed in the first half, specialized REITS weighing on the former: Extra Storage -3.72%, American Tower -3.19%, Crown Castle -3.18%. Meanwhile, electricity providers weighed on the Utliity sector: Pinnacle West -2.17%, Xcel Energy -2.07%.