US Equity Handover: Stocks Recover Off Morning Lows Despite Trade Talks Dissolving

See a summary of the top stock themes and trends from today's US session!


  • US indices shrugged off morning losses to close higher on the day.
  • All eleven major sectors closed higher. Utilities (XLU) led the way with a nearly 2% gain while health care stocks were the laggards, finishing essentially flat on the day.
  • US-China trade talks dissolved with no deal, though parties described the discussions as “constructive” and having went “fairly well.” Chinese media reports that the two sides will meet again in Beijing in the coming weeks.
  • The US reported slightly softer-than-expected CPI figures (2.0% y/y), but “core” CPI, which filters out more volatile food and energy prices, rose 2.1% as expected.
  • Uber (UBER) stumbled out of the gate on its IPO, closing at 41.40,  below even its (subdued) initial offering price. Rival LYFT dumped over 7%.
  • Real estate database Zillow (ZG) rallied 5.5% after reporting “triple play” earnings (beat earnings estimates, beat revenue estimates, and raised guidance) yesterday

Corporate Calendar

NTS = No Time Specified

Macroeconomic Calendar

*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.