* U.S. equity index futures little changed: Dow slips,
Nasdaq up
* U.S. jobless claims 444k vs 450k est; Philly Fed 31.5 vs
43 est
* Euro STOXX 600 index up ~0.8%
* Dollar down; gold ~flat, crude falls; Bitcoin ~42k
* U.S. 10-year Treasury yield ~1.66%
May 20 - Welcome to the home for real-time coverage of
markets brought to you by Reuters reporters. You can share your
thoughts with us at markets.research@thomsonreuters.com
THE TAKE-PRIVATE BOOM (0905 EDT/1305 GMT)
Private equity firms have completed more take-private deals
in the first five months of the year than in any year since at
least the global financial crisis, data from Dealogic shows.
In the five months to May, 12 companies in the UK were
delisted and 96 globally. This represents the highest number of
take-private acquisitions over the same period since at least
2008.
The number and volume of deals so far this year put 2021
already on track to be one of the strongest year for take
private acquisitions in Britain.
One of the latest deals includes Clayton, Dubilier & Rice
(CD&R) deal to buy London-listed UDG Healthcare for 2.6
billion pounds ($3.7 billion).
(Joice Alves)
*****
NASDAQ COMPOSITE: LACKING THAT INTERNAL SMILE (0850 EDT/1250
GMT)
The Nasdaq Composite is down around 6% from its
April highs and with this, the tech-laden index is on pace to
accomplish a relatively rare feat.
Indeed, the Composite on track to fall for a 5th-straight
week. Since the Great Financial Crisis low in March 2009, the
IXIC has only seen two other losing streaks of more than 4
weeks. A 5-week stretch in May-June 2011, and a 6-week run of
losses in October-November 2012. Thus, it's been almost 9 full
years since the Composite last fell for at least 5-straight
weeks.
With this recent setback, measures of internal strength have
severely weakened. For example, the Nasdaq New High/New Low
(NH/NL) index, which matched a 10-year high of 96.4% in
January, has now fallen to 50.2%:
However, it is now reaching what can be considered support.
Since the March, 2020 market lows, this measure has bottomed in
49.7% to 43.8% area.
Therefore, it may now be critical for the broader Nasdaq to
show its mettle. That said, the NH/NL index will need to reclaim
its descending 10-day moving average (now 60.6%) to add credence
to the view that it has formed some sort of low.
Falling below 43.8%, and maintaining its downtrend, can
suggest potential for a greater collapse. Of note, major lows in
late 2018 and early 2020 were in the 1.2%-1.6% area.
(Terence Gabriel)
*****
FOR THURSDAY'S LIVE MARKETS' POSTS PRIOR TO 0850 EDT/1250
GMT - CLICK HERE:
(Terence Gabriel is a Reuters market analyst. The views
expressed are his own)