FOREX: USD/JPY Inches to New Highs Through London Close
May-28 15:29
- USD/JPY hitting a new daily high as a modest phase of USD buying helps tip the pair to print Y144.99 through the London close.
- USD gains not uniform across G10, however, as GBP, NZD see more muted interest, but EUR/USD is now cleanly through the 1.13 handle for the first time since last week as the price looks to snap the uptrendline drawn off the early May low. 1.1284 marks the next intraday downside level: the 38.2% retracement for the upleg off 1.1065, clearance below which opens the 50-dma which had successfully held as support when tested earlier this month.
- Fed minutes due later today are unlikely to leave a ripple in markets, with NVIDIA's earnings due aftermarket likely of bigger influence. The firm have beaten on EPS expectations in all but 2 of the 13 quarterly reports released since the beginning of 2022, and remain the second largest stock in the S&P 500 by market cap.
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US STOCKS: Early Equities Roundup: Chip Makers, Autos & E-Commerce Weaker
Apr-28 15:21
- Stocks trade mixed midmorning Monday, the Dow outperforming near steady to weaker SPX eminis and Nasdaq indexes. Currently, the DJIA trades up 81.35 points (0.2%) at 40194.74, S&P E-Minis down 15.5 points (-0.28%) at 5533.5, Nasdaq down 127.9 points (-0.7%) at 17256.44.
- Information Technology and Consumer Discretionary sectors underperformed as they pared last week's gains:
- Semiconductor makers weighed on the IT sector: NVIDIA -2.41%, Micron Technology -1.29%, Cadence Design Systems -1.03%, Applied Materials -0.92% and Advanced Micro Devices -0.73%. E-commerce and autos weighed on the Discretionary sector with eBay -0.88%, Best Buy -0.83%, Tractor Supply -0.80%, Tesla -0.64% and Amazon.com -0.50%.
- On the positive side, Financials and Health Care sectors led gainers in the first half, insurance and financial services firms bounced back from Friday's selling: Apollo Global Management +2.47%, Aon +1.88%, Synchrony Financial +1.65%, Blackstone +1.61% and Progressive Corp +1.59%. Pharmaceuticals buoyed the Health Care sector: Mettler-Toledo Int +2.27%, Charles River Labs +2.14%, AbbVie +1.97%, Revvity +1.90% and Bristol-Myers Squibb +1.73%.
- Expected earnings announcements after today's close: Alexandria Real Estate, Cadence Design, SBA Comm, Crown Holdings, Welltower, Solaris Energy, Noble Corp, Brown & Brown, Nucor Corp, Teradyne Inc, Universal Health Services, EZCORP and Waste Management Inc.
FED: US TSY 26W AUCTION: NON-COMP BIDS $1.495 BLN FROM $68.000 BLN TOTAL
Apr-28 15:15
- US TSY 26W AUCTION: NON-COMP BIDS $1.495 BLN FROM $68.000 BLN TOTAL
FED: US TSY 13W AUCTION: NON-COMP BIDS $2.309 BLN FROM $76.000 BLN TOTAL
Apr-28 15:15
- US TSY 13W AUCTION: NON-COMP BIDS $2.309 BLN FROM $76.000 BLN TOTAL
