US-CHINA: Washington & Beijing Trade Accusations Of Violating 'Geneva Consensus'
May-30 16:31
MNI London: The United States and China have both accused the other of violating the tariff truce re...
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US STOCKS: Midday Equities Roundup: Off Morning Lows, Heavy Earnings Docket Late
Apr-30 16:23
- Stocks trade weaker Wednesday, off midmorning lows to near midrange after a flurry of mixed data creates a rather volatile first half. Currently, the DJIA trades down 244.55 points (-0.6%) at 40286.72, S&P E-Minis down 55.5 points (-0.99%) at 5529.5, Nasdaq down 246.7 points (-1.4%) at 17218.69.
- Treasury futures and stocks reversed course - extending lows after this morning's higher than expected GDP Price index, Personal Consumption and Core PCE data. Indexes pared back nearly half of the early session losses after solid PCE income growth reflected in the PCE data partially offset by tariff impacts.
- Pessimistic earnings kept a lid on further dip buying, Caterpillar declined .8% after lowering sales sales targets. Note, Microsoft and Meta trade lower ahead of earnings after the close (*).
- Laggers included Super Micro Computer down over 15.25% after missing earnings expectations late Tuesday, CoStar Group -8.66%, Edison International -8.51% Norwegian Cruise Line -8.03% and Starbucks -7.18% after second quarter sales disappointed.
- Energy stocks retreated as crude prices continued to fall (WTI -2.30 at 58.12): Enphase Energy -5.89%, Expand Energy -5.06% and Targa Resources -5.06%.
- Some tech, industrial and health care stocks rejected the selloff: Seagate Technology +9.53% and Western Digital +7.07%. Industrials saw Trane Technologies gain 8.05%, Vulcan Materials +5.34% and PPG Industries +3.89%. Elsewhere, GE HealthCare Technologies +4.43%.
- *Earnings expected to release after today's close include: Wingstop, Allstate, Host Hotels & Resorts, QUALCOMM, eBay, Teladoc Health, Microsoft Corp, American Water Works, Crown Castle, Align Technology, Meta Platforms, Robinhood Markets, Equinix, Ventas, Albemarle Corp, MetLife, KLA and MGM Resorts.
MNI EXCLUSIVE: MNI Interviews Former St. Louis Fed President on Monetary Policy
Apr-30 16:12
- MNI interviews former St. Louis Fed president on monetary policy -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
FED: US TSY TO SELL $58.000 BLN 3Y NOTES MAY 05, SETTLE MAY 15
Apr-30 16:05
- US TSY TO SELL $58.000 BLN 3Y NOTES MAY 05, SETTLE MAY 15
