US STOCKS: Late Equities Roundup: Up, Up & Away - Extending New Record Highs
Sep-11 18:20
- Major equity indexes extended their climb to new record highs late Thursday, supported in large part by a dovish reaction to this morning's data - more or less in-line CPI inflation and higher than expected weekly claims - that buoyed projected rate cut pricing into year end.
- Currently, the DJIA trades up 610.71 points (1.34%) at 46106.55 vs. 46129.84 record high, S&P E-Minis up 51.25 points (0.78%) at 6591 vs. 6595.0 record high, Nasdaq up 156.7 points (0.7%) at 22041.16 vs. 22048.65 record high.
- A combination of Health Care, Financials and Consumer Discretionary sector shares led gainers in the first half.
- Managed care provider Centene Corp led gains in the Health Care sector - rising +11.64%, followed by Molina Healthcare +6.29%, Moderna +5.31% and AbbVie +4.02%.
- The Financials sector was buoyed by KKR & Co +4.24%, Blackstone +3.39%, Blackrock +3.09% and Apollo Global Management +2.91%.Meanwhile, cruise lines rebounded from early week selling: Norwegian Cruise Line +5.82%, Tesla +5.29%, Carnival +4.32% and Royal Caribbean +3.66%.
- On the flipside, IT, Communication Services and Energy sector shares led decliners in late trade: Oracle Corp -5.84%, Netflix -4.30%, Broadcom -2.42%, Vistra -2.38% and Teradyne -2.32%.
- Energy stocks retreated as oil prices halted four consecutive session gains (WTI -1.29 at 62.38): APA Corp -1.37%, Expand Energy -0.86%, Diamondback Energy -0.84%, Devon Energy -0.73% and ConocoPhillips -0.61%.
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US FISCAL YEAR-TO-DATE DEFICIT $1.629T, +7% VS FYTD 2024
Aug-12 18:00
- US FISCAL YEAR-TO-DATE DEFICIT $1.629T, +7% VS FYTD 2024
MNI: US JUL TREASURY BUDGET -$291.1B
Aug-12 18:00
- MNI: US JUL TREASURY BUDGET -$291.1B
EURGBP TECHS: Returns Lower, But Support Out of Reach
Aug-12 18:00
- RES 4: 0.8835 High May 3 2023
- RES 3: 0.8800 Round number resistance
- RES 2: 0.8781 2.236 pro of the Mar 3 - 11 - 28 price swing
- RES 1: 0.8735/8769 High Aug 3 / High Jul 27 and the bull trigger
- PRICE: 0.8643 @ 16:00 BST Aug 12
- SUP 1: 0.8612 50-day EMA
- SUP 2: 0.8611 Low Jul 31
- SUP 3: 0.8540 Low Jun 30
- SUP 4: 0.8508 Low Jun 27
EUR/GBP corrected lower last Thursday on the BoE rate decision, which sent prices through the weekly low. Despite the intraday weakness, support to watch remains out of reach for now at the 0.8612 50-day EMA. A clear break of it would strengthen a bear threat. More broadly, the trend set-up is bullish. Moving average studies remain in a bull-mode position highlighting a clear uptrend. Key resistance and the bull trigger is at 0.8769, the Jul 27 high.
