FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

US STOCKS: Late Equities Roundup: IT and Energy Lead Gainers

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks cling to mildly higher levels late Wednesday, off this morning's lows as post-data tactical shorts covered ahead of Friday's employment report. Currently, the Dow is up 68.4 points (0.16%) at 42224.62, S&P E-Minis up 6 points (0.1%) at 5766, Nasdaq up 44.8 points (0.3%) at 17954.25.
  • Semiconductor stocks continued to lead gainers in the IT sector amid continued AI demand (not to mention several dealer upgrades for chip makers in general): KLA Corp +3.34%, Monolithic Power +3.20%, Teradyne +2.88% while Lam Research gained 2.57%. 
  • Even though crude prices were well off early highs (WTI at 70.45 vs. 72.40 this morning), the ongoing tensions in the Mideast continued to support oil and gas shares: Williams Cos +2.03%, Diamondback Energy +1.46%, Devon Energy +1.23%.
  • Conversely, Consumer Staples and Consumer Discretionary sectors continued to underperform the late trade. Food and beverage companied weighed on the Staples sector: Conagra Brands -8.0% after missing earnings on "challenging environment", while McCormick trades -3.16%.
  • Automakers weighed on the Consumer Discretionary sector: Tesla -3.34% while Ford -2.37%.
168 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 cling to mildly higher levels late Wednesday, off this morning's lows as post-data tactical shorts covered ahead of Friday's employment report. Currently, the Dow is up 68.4 points (0.16%) at 42224.62, S&P E-Minis up 6 points (0.1%) at 5766, Nasdaq up 44.8 points (0.3%) at 17954.25.
  • Semiconductor stocks continued to lead gainers in the IT sector amid continued AI demand (not to mention several dealer upgrades for chip makers in general): KLA Corp +3.34%, Monolithic Power +3.20%, Teradyne +2.88% while Lam Research gained 2.57%. 
  • Even though crude prices were well off early highs (WTI at 70.45 vs. 72.40 this morning), the ongoing tensions in the Mideast continued to support oil and gas shares: Williams Cos +2.03%, Diamondback Energy +1.46%, Devon Energy +1.23%.
  • Conversely, Consumer Staples and Consumer Discretionary sectors continued to underperform the late trade. Food and beverage companied weighed on the Staples sector: Conagra Brands -8.0% after missing earnings on "challenging environment", while McCormick trades -3.16%.
  • Automakers weighed on the Consumer Discretionary sector: Tesla -3.34% while Ford -2.37%.