Market News & Analysis
US Equity Handover: US Indices Erase Monday’s Losses
Matt Weller, CFA, CMT May 17, 2019 4:31 AM
- US indices rallied for a third straight day fully erasing Monday’s losses.
- All eleven major indices rose on the day, led by materials (XLB). Energy (XLE) was technically the weakest sector, though it still rose more than 0.5% on the day.
- Uber closed at 43.00 to approach its initial offering price of $45.
- AAPL closed marginally lower on the day, partially on fears of Huawei related backlash from China.
- Today’s second-tier US economic data was generally solid, with jobless claims printing at 212k vs. 220k expected and April housing starts coming in at 1235k vs. 1209k eyed.
- Walmart (WMT) gained nearly 1.5% after reporting better-than-expected earnings, though the stock did pare its early gains.
NTS = No Time Specified
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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