US Equity Handover US Stocks Drop for the Second Day
See a summary of the top stock themes and trends from today's US session!
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Headlines
- US indices continued to fall after yesterday’s “key reversal”, led lower by the Dow (-0.5%)
- Among the major sectors, REITs (XLRE) edged higher, while energy (XLE) stocks dumped about 1.6% as WTI fell 3% on the day to a one-month low.
- Traders were ravenous for shares in Beyond Meat’s IPO, with the stock surging nearly 200% from its offering price at one point. BYND closed the day up over 160%.
- US-China trade deal speculation was rife today, with a Chamber of Commerce official saying talks were in the “endgame,” while Chinese media suggested the negotiations were at an impasse. Traders remain skeptical until a Trump-Xi summit is formally announced.
- Trading in Asian markets will likely be thin with Japanese traders still on break for Golden Week.
Corporate Event Calendar (Asia)
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Macroeconomic Calendar
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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