US Equity Handover: Stocks Break 3-Day Winning Streak Despite 15-Year High in Consumer Sentiment

Matt Weller
By :  ,  Head of Market Research

Headlines

  • US indices dropped heading into the weekend, breaking a 3-day streak of gains, as US-China trade talks remain in flux.
  • Ten of the eleven major sectors fell on the day, led by roughly -1.0% declines in industrials (XLI) and energy (XLE). Utilities (XLU) were the lone sector to gain ground, tacking on 0.5%.
  • The University of Michigan consumer sentiment reading surged to 102.4, its highest reading since 2004.
  • Tesla Motors (TSLA) shed another 7%+ today to trade near $211, its lowest level since late 2016.

*No top-tier earnings reports are scheduled for tomorrow’s Asian session*

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*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.


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