Market News & Analysis
US Equity Handover: Stocks Break 3-Day Winning Streak Despite 15-Year High in Consumer Sentiment
Matt Weller, CFA, CMT May 17, 2019 9:14 PM
- US indices dropped heading into the weekend, breaking a 3-day streak of gains, as US-China trade talks remain in flux.
- Ten of the eleven major sectors fell on the day, led by roughly -1.0% declines in industrials (XLI) and energy (XLE). Utilities (XLU) were the lone sector to gain ground, tacking on 0.5%.
- The University of Michigan consumer sentiment reading surged to 102.4, its highest reading since 2004.
- Tesla Motors (TSLA) shed another 7%+ today to trade near $211, its lowest level since late 2016.
*No top-tier earnings reports are scheduled for tomorrow’s Asian session*
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.