Intertek Group Share News (ITRK)

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Main U.S. equity indexes around flat
  
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U.S. Apr NAHB index 45 vs 44 estimate
  
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Euro STOXX 600 index ~flat
  
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Dollar up; gold, crude, bitcoin decline
  
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U.S. 10-Year Treasury yield rises to ~3.57%
  
 
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U.S. STOCKS STEP GINGERLY IN EARLY TRADE (1015 EDT/1415 GMT) The main U.S. indexes are all roughly flat in early 
trade on Monday as investors await more bank earnings and views 
from Federal Reserve policymakers that could shape expectations 
around when the central bank would pause its monetary policy 
tightening. 
A majority of S&P 500 are in positive territory, with real estate posting the biggest rise. 
Communication services is down more than 1.5%, making it the only one of the 11 sectors with an absolute change 
of more than 1%. 
Here is an early trade snapshot: 
 
 
 
 
 
(Terence Gabriel) 
 
***** 
 
 
 
 
 
WEDBUSH BELIEVES INDIA IS APPLE'S NEXT MARKET TO CONQUER 
(0925 EDT/1325 GMT) 
 
Wedbush believes Apple Inc's move to open its 
first retail store in India kicks off an aggressive push that 
could ramp up annual India revenue to $20 billion by 2025. 
This compares with Apple's revenues from the country touching $6 billion in the year through March 2023. 
"Apple, with price points across the board, plan to take a page out of their historically successful China strategy in 
penetrating India over the coming years and unseating 
traditional competitors," says Wedbush analyst Dan Ives. 
Apple is looking at India from both a production and a retail expansion point of view over the coming years - a 
strategic "poker move," says Ives. 
Market share gains are on the horizon as it opens in major cities and attempts to attract more Indian consumers into the 
Apple ecosystem. 
GREENER PASTURES AHEAD FOR EUROPE'S ESG (0904 EDT/1304 GMT)
After a rough 2022, it looks like sustainable investing is back in vogue. 
Environmental, social and governance (ESG) equity funds ended the first quarter of this year with net inflows, even 
after the March withdrawals sparked by the banking crisis, 
beating non-ESG equity funds, which lost money. 
Citi Research's equity strategy team said there are three main reasons to re-engage with ESG stocks this year - 
1. ESG earnings have been resilient to past profit recessions 
2. Real rates are stabilizing and ESG is a "growth trade" so subsiding valuation pressures should help these stocks 
3. Structural pro-ESG trends like the U.S. Inflation Reduction Act 
Stocks in Europe that could benefit from these trends, according to Citi, include luxury firms such as Richemont 
, and Kering and pharmaceutical firms like Novo 
Nordisk. 
Citi's list of resilient ESG stocks have gained 14% on average so far this year, outpacing the 10% gain in 2023 by the 
broader STOXX 600 index. 
Here's a full list of European ESG stocks, recommended by Citi with resilient EPS: 
RIC               Name 
 
YTD% 
 
 
Eiffage                    11.782 
Kone B                     2.9814 
Intertek Group             1.8344 
Teleperformance           -3.8616 
Amadeus It Group          27.1267 
Compass Group              8.2138 
Whitbread                 21.1284 
Nestle                     4.6722 
London Stock Exchange     10.6222 
Worldline                  8.4588 
Danone                    20.8816 
Prudential                 2.0399 
Kering                    20.0631 
Richemont N                22.769 
Air Liquide               20.6193 
Smith (DS)                 1.1527 
Publicis Groupe            25.143 
WPP                        16.435 
Lonza Group               30.5231 
Novo Nordisk 'B'          23.9232 
Inditex                   26.1569 
Ahold Delhaize            15.7601 
DSV                       17.5559 
EDP Renovaveis             1.0204 
 
S&P 500 INDEX: ABOUT TO BE A BREAK IN CLOUDS? (0900 EDT/1300 GMT) 
The S&P 500 index ended last week flirting some major chart barriers. Thus, bulls may soon learn whether their worries 
are just like passing clouds, or if instead, another storm may 
be brewing. 
The SPX hit a high on Friday of 4,163.19 before closing out the week at 4,137.64. 
Thus, the benchmark index flirted with the upper edge of the weekly Ichimoku cloud, which resides around 4,155. 
Ichimoku cloud is technical indicator which displays support and resistance, identifies trends, and measures momentum. 
Utilizing midpoints of ranges, a number of lines are generated. 
Two of these lines are used to create cloud boundaries. The 
entire cloud is shifted forward in time in order to provide a 
glimpse of future support and resistance: 
  
Once the SPX broke below the cloud in May of last year, it has failed to thrust back above it on a weekly closing basis. 
Indeed, rallies failed in early-June, mid-August, mid-December, 
and in early-February of 2023. 
Thus, the 4,155 level presents an important hurdle.
Add in additional resistance at the early-February high at 4,195.44, the 23.6% Fibonacci retracement of the March 
2020-January 2022 advance at 4,198.70, the Fed-Chair Powell 
August-26 Jackson Hole speech high at 4,203.04, and the 100-week 
moving average, which ended Friday at 4,203.49, and bulls may 
have their heads in the clouds if they expect the SPX will be 
able to continue to advance. 
That said, clearing these barriers will have the potential to add credence to the view that the SPX saw a major low in 
October, and suggest that its trend inflection is only 
strengthening.