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Late Equity Roundup: Bearish Threat Realized

US STOCKS

Stocks extending session lows in late Friday trade while earlier vacillations in Treasuries have died down ahead the close.

  • SPX eminis have gradually broken several key support levels on the day, through psychological whole-figure support of 4300.0, ESM2 currently at 4282.0, -108.5 (-2.47%) puts late attention on 4247.89 76.4% Fibonacci retracement of the Mar 15 - Mar 29 rally. Beyond that, next key support is at 4129.50 (Low Mar 15).
  • Latest earnings cycle that kicked off Monday winds down ahead the weekend. American Express (AXP) and Verizon (VZ), Schlumberger (SLB) and Newmont (NEM) annc'd pre-open, NEM weaker on profit miss/forward guidance.
  • SPX leading/lagging sectors: Consumer Staples sector outperformed (-0.63%) lead by household and personal product makers; Materials (-1.35%) and Energy sector (-1.49%) followed.
  • Laggers: Industrials and Communication Services near tied (-3.25) followed by Consumer Discretionary (-2.56%)
  • Meanwhile, Dow Industrials currently trades -840.47 (-2.42%) at 33952.18, Nasdaq -301.5 (-2.3%) at 12872.68.
  • Dow Industrials Leaders/Laggers: Proctor & Gamble (PG) outperformed -- near steady at 162.67, while Coke (KO), JNJ, IBM and Intel between -0.50-0.65. Leading laggers: Caterpillar extends the slide (-16.33 at 216.24), United Health (-13.34 at 524.10) and Goldman Sachs (-11.18 at 323.12)
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