US STOCKS: Early Equities Roundup: Semiconductor & Food Makers Outperforming
Feb-26 16:47
- Stocks are moderately higher late Wednesday morning, putting the SPX Eminis near the middle of Monday's range and still well off last week's highs. Currently, the DJIA trades up 125.98 points (0.29%) at 43748.01, S&P E-Minis up 46.75 points (0.78%) at 6016.75, Nasdaq up 237 points (1.2%) at 19263.82.
- Information Technology and Consumer Discretionary sectors outperformed in the first half, semiconductor makers supporting the former with First Solar +11.41% after reporting a 27% revenue gain and positive guidance late Tuesday, Micron Technology +5.96% and Broadcom +4.83%. Note, NVIDIA gains 5.11% ahead of this afternoon's earnings announcement (1620ET).
- Underpinning the Consumer Discretionary sector, General Motors gained 5.59%, Ralph Lauren +4.41%, Tapestry +3.84%, while Chipotle Mexican Grill +3.77%.
- Conversely, Consumer Staples and Health Care sectors underperformed in the first half, food makers weighing on the former with Campbell's Company -3.67%, Hershey -3.48%, General Mills -3.02%. Profit taking in pharmaceuticals weighed on the Health Care sector: Merck & Co -2.14%, Biogen -1.87%, Amgen -1.82%.
- Earnings expected after the close: Howard Hughes Holdings, Magnite Inc, Agilent Technologies, Snowflake, Nutanix Inc, Synopsys, eBay, NVIDIA, Salesforce, Kratos Defense & Security, Paramount Global, Teladoc Health, Sweetgreen and Core Scientific.
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ITALY AUCTION PREVIEW: On offer this week
Jan-27 16:43
MEF has announced it will be looking forward to sell the following at its auction this Thursday, January 30:
- E2.5-2.75bln of the 3.00% Oct-29 BTP (ISIN: IT0005611055)
- E1.5-2.0bln of the 3.85% Feb-35 BTP (ISIN: IT0005607970)
- E1.0-1.5bln of the 3.35% Mar-35 BTP (ISIN: IT0005358806)
- E2.25-2.75bln of the 1.10% Apr-33 CCTeu (ISIN: IT0005620460)
US TSYS/SUPPLY: Review 2Y Auction
Jan-27 16:34
Tsy futures remain bid (TYH5 +18 at 109-01) after the latest $69B 2Y note auction (91282CMH1) comes out nearly in line: 4.2110% high yield vs. 4.210% WI; 2.66x bid-to-cover vs. 2.73x prior.
Indirect take-up retreated to 65.02% from 82.09% prior, directs rebounded to 21.27% vs. 6.65% prior, primary dealer take-up 13.71% vs. 11.26% prior.
The next 2Y auction is tentatively scheduled for February 24.
FED: US TSY 26W BILL AUCTION: HIGH 4.140%(ALLOT 66.53%)
Jan-27 16:32
- US TSY 26W BILL AUCTION: HIGH 4.140%(ALLOT 66.53%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 31.29% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 8.08% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 60.63% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 2.92
