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$124.85 -1.4  -1.1%

Last Trade - 18/05/21

Large Cap
Market Cap £1.49tn
Enterprise Value £1.53tn
Revenue £230.23bn
Position in Universe 2nd / 6846

LIVE MARKETS-The TGIF reopening play: Stocks pushed to record highs - again

Fri 16th April, 2021 2:58pm
* S&P, Dow green at open; Nasdaq in negative territory * Materials biggest gainer among S&P sectors; tech down most * Euro STOXX 600 up ~0.6%; on track for 7th-straight weekly gain * Dollar edges lower; gold gains; crude dips * U.S. 10-Year Treasury yield ~1.58% Welcome to the home for real-time coverage of equity markets brought to you by Reuters reporters. THE TGIF REOPENING PLAY: STOCKS PUSHED TO RECORD HIGHS - AGAIN (0955 EDT/1355 GMT) Wall Street opened mostly higher on Friday, as investors prepared to sail into the weekend under the power of upside surprises in earnings and economic data. Economically sensitive cyclicals and transports .DJT are ahead of the pack. However, megacap market leaders, Tesla TSLA.O , Apple AAPL.O , and AMZN.O are quickly dragging the Nasdaq .IXIC into negative territory. The S&P 500 .SPX and the Dow .DJI , which have reached several new closing highs this week, have set courses for their fourth consecutive weekly gains, and the Nasdaq is on track for its third. Morgan Stanley MS.N wrapped up a week of big bank earnings which fired the starting pistol for first-quarter reporting season. The broker hummed a tune we've grown familiar with this week; better-than-expected quarterly profit largely due to benefits from reserve releases, record capital markets activity and a surge in trading volumes.*:nL4N2M92XL On the downside, they disclosed a near $1 billion loss from the Archegos fire sale. MS shares are modestly lower. Next week, earning season puts the pedal to the metal, with Netflix NFLX.O , Johnson & Johnson JNJ.N , Procter & Gamble PG.N , American Airlines AAL.O , and Intel INTC.O among the heavy hitters due at bat. Here's your opening snapshot: (Stephen Culp) ***** DON'T GET SHORT WITH ME! (0900 EDT/1300 GMT) Short sellers have been reducing their exposure to U.S. stocks recently with the value of shares sold short decreasing by 3.2%, or $35.4 billion, to $1.08 trillion, according to the latest data from S3 Partners. While the list of five stocks with the most short exposure is unchanged, Ihor Dusaniwsky pointed to "positional jockeying below" with the most dramatic changes showing up in ViacomCBS VIAC.O : ViacomCBS, whose shares have fallen more than 60% from its record high since March 15, dropped from the No. 6 position to the No. 38 position in the most shorted league table, according to S3. Also, Walt Disney Co DIS.N fell from a 17 ranking to 26 while Baidu Inc ADR BIDU.O dropped from 22nd place to 50th and Exxon Mobil Corp XOM.N fell from No. 25 to No. 51. Meanwhile Analog Devices Inc ADI.O moved into 10th place from 15th while AstraZeneca AZN.O climbed from 20th to 15th while S&P Global Inc SPGI.K climbed to 21st from 31st. Stocks that are a big focus among members of online forums on Reddit, and stocks caught up in the Archegos margin call liquidation, saw the biggest decrease in short exposure. Although S3 notes that most of the declines are the result of mark-to-market stock price moves and not short covering which means that it is not due to shorts exiting their positions. In this category S3 includes Viacom, GSX Techedu Inc GSX.N , Discovery Inc's DISCA.O DISCK.O class A and C shares, iQIYI IQ.O , GameStop GME.N and Futu Holdings FUTU.O . (Sinéad Carew) ***** FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:*:nL1N2M90Z4 <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ VIAC04162021 Opening snapshot ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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