Dow up ~0.5%, S&P 500 edges green, Nasdaq slips
S&P Global Nov flash Mfg PMI in-line with est; Svcs > est
U Mich Nov sentiment final 71.8 vs 73.7 est
Euro STOXX 600 index up >1%
Dollar, crude, gold, bitcoin all higher
U.S. 10-Year Treasury yield edges down to ~4.43%
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MAIN US INDEXES MIXED, BUT HEADED FOR WINNING WEEK
Wall Street's main indexes are mixed early on Friday as investors are digesting business activity data as well as monitoring geopolitical tensions between Ukraine and Russia.
A majority of S&P 500 .SPX sectors are higher with staples .SPLRCS, up nearly 1%, posting the biggest rise. Just tech .SPLRCT and communication services .SPLRCL are lower.
Under the surface, regional banks .KRX and retail stocks XRT.P are outperforming.
As it stands, the three main U.S. indexes are all on track to rise more than 1% for the week.
Meanwhile, it's been a little over two weeks since Donald Trump won the presidential election. Since then, the SPX has risen about 3.1%, and there have been a number of clear winners and losers over this short period.
In terms of S&P 500 sectors, financials .SPSY are out front with a gain of more than 8%. Energy .SPNY, consumer discretionary .SPLRCD, utilities .SPLRCU and industrials .SPLRCI are all up and have outperformed the SPX.
Tech .SPLRCT, communication services .SPLRCL, staples .SPLRCS, real estate SPLRCR and materials .SPLRCM are all positive, but up less than the SPX.
Healthcare .SPXHC is the sole loser with a 2.3% loss.
Regional banks .KRX (+14%) and big banks .SPXBK (+12%) have been especially strong. Small- .RUT and mid- caps .IDX are both up more than 5%.
Chips .SOX and gold stocks .HUI are both negative since the election.
Separately, bitcoin BTC= has certainly been a big winner since election day. BTC= is up more than 40% after coming within a whisker of touching $100k.
Here is a snapshot of where markets stood just shortly after 1015 EST:
(Terence Gabriel)
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FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
S&P 500 INDEX: BACK ON TRACK FOR NEW HIGHS? - CLICK HERE
A 50-BPS ECB CUT IN DECEMBER? DISCOURAGING EURO ZONE PMI KEEPS MARKETS GUESSING - CLICK HERE
UK CONSUMER SENTIMENT DOWN POST-LABOUR BUDGET - JP MORGAN - CLICK HERE
MICROSTRATEGY'S SHARE TURNOVER TOPS TECH GIANTS AS BITCOIN ON VERGE OF $100,000 - CLICK HERE
AS SOME TRUMP TRADES LOSE STEAM, WHAT HAPPENS NEXT? - CLICK HERE
MORE BUYBACKS BRIGHTEN ASIA'S BELOW EXPECTATIONS Q3 EARNINGS - HSBC - CLICK HERE
TECH, REAL ESTATE LEAD STOXX 600 HIGHER - CLICK HERE
EUROPEAN EQUITY FUTURES HIGHER, PMIS IN FOCUS - CLICK HERE
BITCOIN WATCH PARTY RAGES ON AS PMIS LOOM - CLICK HERE
earlytrade11222024 https://tmsnrt.rs/3Z3k5sD
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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