|
| |
On Tuesday, the major indices in the U.S. finished higher, with equities supported by easing Treasury yields and optimism ahead of the upcoming earnings season, while the S&P 500 and Nasdaq reached record highs.
The S&P 500 advanced 45pts (+0.58%) to 7,819.
The Nasdaq 100 gained 148pts (+0.48%) to 31,224.
The Dow climbed 253pts (+0.49%) to 51,521.
On the sector front, Utilities (XLU), Consumer Discretionary (XLY), and Real Estate (XLRE) outperformed, while Health Care (XLV), Communication Services (XLC), and Financials (XLF) underperformed the most.
Looking at the latest U.S. economic data, the trade deficit widened to $105.6 billion in August, exceeding the $102 billion forecast, from $88.6 billion in July.
U.S. Equity News:
Constellation Energy (CEG), a nuclear power producer, jumped 12.3% after signing a 20-year nuclear power agreement with Google to boost output across 11 existing reactors, with Constellation planning to invest more than $4.3 billion in the projects.
Corteva (CTVA), a crop protection company, rallied 12.3% after JPMorgan upgraded the stock to Buy from Hold, citing an attractive valuation following the recent spin-off of its seed technology business.
Vistra (VST), a nuclear power producer, climbed 10.7% after the U.S. Energy Department announced a conditional loan commitment of up to $4.2 billion to finance upgrades across the company’s nuclear plants.
Ciena (CIEN), a networking systems and optical communications company, advanced 13.8% amid optimism around strong demand for optical networking infrastructure, supported by 5G deployment, cloud expansion, and fiber-network growth.
Moderna (MRNA), a biotechnology company, slid 7.8%.
Volatility & Commodities Snapshot:
The VIX index declined 0.51pt (-3.29%) to 15.01.
The U.S. 10-year Treasury yield fell approximately 3 basis points to 5.279%.
In the commodities market, gold gained 27.99 dollars (+0.68%) to 4,167.48.
Silver rose 0.35 dollars (+0.58%) to 61.40.
WTI crude oil advanced 0.52 dollars (+0.58%) to 89.95.
Europe Market Overview:
At the European close, the major indices in the region finished in positive territory.
Germany's DAX gained 194pts (+0.77%) to 25,449.
France's CAC 40 rose 30pts (+0.4%) to 7,865.
The U.K.'s FTSE 100 advanced 43pts (+0.42%) to 10,541.
On the economic data front, Germany's factory orders dropped 10.6% month-on-month in August, significantly below the 1% decline expected and reversing a 3.2% increase in July. Separately, France's industrial production fell 0.3% in August, compared with a 0.3% increase expected, following a revised 0.6% decline in July.
Foreign Exchange & Crypto Wrap:
The dollar index declined 0.32pt (-0.31%) to 101.848.
EUR/USD gained 38pips (+0.34%) to 1.1259.
GBP/USD advanced 54pips (+0.41%) to 1.3273.
USD/JPY rose 23pips (+0.15%) to 158.13.
USD/CHF edged higher 9pips (+0.11%) to 0.8314.
AUD/USD climbed 12pips (+0.17%) to 0.6981.
USD/CAD retreated 47pips (-0.33%) to 1.4210.
In Canada, the trade surplus widened to C$4.2 billion in August, well above the C$1.7 billion forecast and up from a revised C$790 million in July. Meanwhile, the Ivey PMI fell sharply to 58.2 in September from 64.3 in August, well below the 65.2 forecast.
After-Hours Earnings
Constellation Brands (STZ) reported second-quarter EPS of $3.32, below the $3.61 consensus estimate, while revenue came in at $2.63 billion, above the $2.54 billion expected. The company maintained its full-year comparable EPS outlook of $11.20 to $11.90.
|
| |
|
|
|
|
|
