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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.
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Free AccessUS STOCKS: Late Equities Roundup: IT and Energy Lead Gainers
- 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%.
To read the full story
Sign up now for free trial access to this content.
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.