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StreetAccount U.S. Evening Market Recap is FactSet's daily podcast aiming to capture the most material market moving news. With a target time of ~5 minutes, this is an ideal listen for those looking to stay connected to the most important themes driving the U.S. economy & corporations.
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US equities were lower in Thursday trading in a somewhat choppy session. However, breadth was positive, and the equal-weight S&P outperformed official index by over 100 bp. The AI trade led to the downside as semi and memory sold off sharply lower.
US equities were lower in Wednesday trading, though ended just off best levels. The session found late support as the rate backdrop stabilized, aided by factors including lower crude and a well-received 10Y auction. However, broader overhangs persist, including French bonds, foreign Treasury demand retrenchment, refinancing walls, and growing AI external funding needs.
US equities were higher in Tuesday trading as stocks extended Monday's gains. A very quiet session though better breadth a big theme again today following all the recent scrutiny surrounding market internals.
US equities were higher in Monday trading as stocks finished not far off best levels. Oil was on the defensive with more push and pull between better flows and lack of diplomatic traction. September ISM services were slightly below consensus.
Major US equity indices were mostly lower this week. Nearer-term Fed rate-hike expectations eased this week with a lot of attention on NY Fed President Williams' comments Tuesday about no need for urgency following September's hike. Another big factor in that downshift was Friday's softer-than-expected September payrolls release.
US equities were higher in Thursday trading, with the equal weight S&P slightly outperforming the cap-weighted index. Yields provided some offset for higher oil amid fading diplomatic momentum and concerns about US-Iran re-escalation.
US equities mixed in Wednesday trading, ending off their best levels. The Mag 7 outperformed today, providing some support. However, breadth was negative again amid the continued debate about how the divergence between weak breadth and index-level resilience gets resolved
US equities ended lower in Tuesday trading, though off from worst levels. A lot of focus remained on bond yield backup, though there are several moving pieces there. It was a busy day of AI headlines, with initial focus on a report of Anthropic IPO details and OpenAI's decision to scrap the planned October release of GPT-6.1 Astra.
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StreetAccount U.S. Evening Market Recap is FactSet's daily podcast aiming to capture the most material market moving news. With a target time of ~5 minutes, this is an ideal listen for those looking to stay connected to the most important themes driving the U.S. economy & corporations.
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