US Equity Handover: US Indices Erase Monday’s Losses

Matt Weller
By :  ,  Head of Market Research

Headlines

  • 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.

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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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