MNI: Rough Transcript of Powell's November Press Conference

MNI BRIEF: Fed Does Not Seek Inflation Goal Undershoot-Powell

MNI BRIEF: Powell-No Near-Term Fed Policy Effect From Election

MNI CNB WATCH: Rates Cut, But Outlook Shows Inflation Pick-Up

MNI BRIEF: Mexican Inflation Rises To 4.76% In September

MNI BRIEF: CNB Lowers Two-Week Repo Rate 25 bps to 4.00%

MNI: US SEP CONSUMER CREDIT +$6.0B

EZ/UK Bond Supply Calendar: Italy Exchange, Belgium ORI Friday

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

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

US STOCKS: Late Equities Roundup: Media & IT Lead Stocks To New Record Highs

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks remained bid in post-FOMC rate cut trade, S&P Eminis breaching psychological resistance of 6000.00 to a record 6013.0 high. Nasdaq also extending session highs (19,301.70) while the DJIA tapped 43,823.1 in late trade. Currently, the DJIA trades up 73.61 points (0.17%) at 43801.83, S&P E-Minis up 51.5 points (0.86%) at 6009.5, Nasdaq up 306.1 points (1.6%) at 19289.84.
  • Communication Services and Information Technology sectors outperformed in late trade, interactive media and entertainment shares buoyed the Communication sector: Warner Brothers +11.16% despite missing estimates as investors focus record subscriber adds. Meanwhile, Take-Two Interactive Software gained 6.91% after beating earnings estimates, Meta +3.61% while Alphabet gained 2.35%. 
  • Meanwhile, Information Technology gained in the second half, led by semiconductor and hardware stocks: after beating earnings expectations this morning, EPAM Systems surged +14.42%, Super Micro Computer +13.04% as investors bought yesterday's lows, ANSYS Inc +5.06 while Intel gained 4.83%.
  • Conversely, Financial and Energy sectors underperformed in the first half, banks weighing on the Financial sector as paper took profits after Wednesday's rally: Citizens Financial -4.14%, JP Morgan -4.05% after gaining over 10.5% yesterday, KeyCorp -3.96%. Oil and servicer shares weighed on the Energy sector: APA Corp -9.70% after missing earnings expectations late Wednesday, Halliburton -3.31%, Devon Energy -2.51%.
  • Corporate earning expected after the close include Block Inc, Insulet Corp, Expedia Group, Fortinet, Akamai Technologies, Rivian Automotive, Mettler-Toledo, Cloudflare, Lucid Group, Sweetgreen Inc, Arista Networks, Dropbox Inc, DraftKings, Archer Aviation, Pinterest, Airbnb Inc, Axon Enterprise, Motorola Solutions, ADMA Biologics, Myriad Genetics and Monster Beverage.
248 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 remained bid in post-FOMC rate cut trade, S&P Eminis breaching psychological resistance of 6000.00 to a record 6013.0 high. Nasdaq also extending session highs (19,301.70) while the DJIA tapped 43,823.1 in late trade. Currently, the DJIA trades up 73.61 points (0.17%) at 43801.83, S&P E-Minis up 51.5 points (0.86%) at 6009.5, Nasdaq up 306.1 points (1.6%) at 19289.84.
  • Communication Services and Information Technology sectors outperformed in late trade, interactive media and entertainment shares buoyed the Communication sector: Warner Brothers +11.16% despite missing estimates as investors focus record subscriber adds. Meanwhile, Take-Two Interactive Software gained 6.91% after beating earnings estimates, Meta +3.61% while Alphabet gained 2.35%. 
  • Meanwhile, Information Technology gained in the second half, led by semiconductor and hardware stocks: after beating earnings expectations this morning, EPAM Systems surged +14.42%, Super Micro Computer +13.04% as investors bought yesterday's lows, ANSYS Inc +5.06 while Intel gained 4.83%.
  • Conversely, Financial and Energy sectors underperformed in the first half, banks weighing on the Financial sector as paper took profits after Wednesday's rally: Citizens Financial -4.14%, JP Morgan -4.05% after gaining over 10.5% yesterday, KeyCorp -3.96%. Oil and servicer shares weighed on the Energy sector: APA Corp -9.70% after missing earnings expectations late Wednesday, Halliburton -3.31%, Devon Energy -2.51%.
  • Corporate earning expected after the close include Block Inc, Insulet Corp, Expedia Group, Fortinet, Akamai Technologies, Rivian Automotive, Mettler-Toledo, Cloudflare, Lucid Group, Sweetgreen Inc, Arista Networks, Dropbox Inc, DraftKings, Archer Aviation, Pinterest, Airbnb Inc, Axon Enterprise, Motorola Solutions, ADMA Biologics, Myriad Genetics and Monster Beverage.