The S&P 500 pulled away from record highs this week, losing 0.5% in total, as investors digested a flurry of political headlines and the latest policy statement from the Federal Reserve, which included another rate hike -- the third one this year. The Dow also fell, losing 1.1%, but the tech-heavy Nasdaq outperformed, rallying 0.7%. OPEC was also in focus on Monday after it and several non-OPEC nations ended a weekend meeting without an agreement to increase output in order to counter falling supply from Iran due to U.S. sanctions. President Trump criticized OPEC in front of the UN General Assembly on Tuesday, saying the oil cartel is "ripping off the rest of the world" by colluding to limit supply and prop up prices. As for the sector standings, they were pretty mixed between red and green. The heavily-weighted financials sector was the second-worst performer, losing 4.1% in total, with materials (-4.5%) being the only group with a more substantial loss. Conversely, the newly-added communications services sector was the top performer with a weekly gain of 1.1%.
Macro :
- Citi Warns S&P 500 ‘Stretched’ While Targeting 3,100 For 2019
- China Publishes List of Items Subject to Import Tariff Cuts
- Italy to Target 2019 GDP Growth of at Least 1.5%: Sole
- Point72 Bias Suit Dropped in Court, to Remain With Arbitrator
Keep an eye on :
- ALV GY : Allianz CFO Says Plans to Cut Property Insurance Cost Ratio: BZ
- BAYN GY : Bayer CEO Sees Solid Year, Glyphosat Risk Overblown, Bild Says
- CFT SW : CFTC Charges TFS-ICAP With Fraud Over Trading Manipulation
- CMCSA US : Comcast, Charter Struggling to Sell Stakes in Mets: NYP
- DIA SM : DIA shareholder Mikhail Fridman ups stake to 29%, close to launching takeover bid
- EIFF FP : Societe de La Tour Eiffel, Affine Announce Plan to Merge
- UG FP : Peugeot Goes High Style to Counter Brand Apathy in Robo-Car Era
- REE SM : Red Electrica Puts Hispasat Purchase Plan on Hold: Expansion
- ROG SW : Genentech’s Xolair Prefilled Syringe Formulation Gets FDA OK
- SAN FP : Regeneron, Sanofi Win Approval for First Immuno-Oncology Drug
- SBMO NA : SBM Offshore Former CEO Sentenced to Prison in Bribery Probe
- SON PL : Sonae to Buy 60% Stake in Arenal Perfumerias Parent Tomenider
- TKA GY : Thyssenkrupp Board Names Bernhard Pellens as Chairman
- VOW3 GY : Audi Already Has 15,000 Orders for Electric E-Tron Car: Report