Market News & Analysis
US Equity Handover: Stocks Recover, but Trade Talks Still Stalled
Matt Weller, CFA, CMT May 15, 2019 6:23 AM
- US indices recovered after yesterday’s shellacking, gaining roughly 1% on the day.
- Ten of the eleven major sectors rose on the day, led by technology stocks (XLK) with a nearly 2% gain. Utilities (XLU) were the laggard, shedding nearly 1%.
- Uber rallied back toward 40.00 today, erasing roughly half of its loss from its IPO price, though traders remain highly skeptical on its prospects.
- US policymakers were in damage control mode after yesterday’s big risk-off move. Treasury Secretary Mnuchin suggested that he could visit China “soon” to continue trade talks, while President Trump said that talks had not collapsed and described the disagreement as a “squabble.”
NTS = No Time Specified
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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