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US STOCKS: Early Equities Roundup: Autos & Mining Shares Underperforming

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks remain weaker but are trading off early session lows ahead midday Monday, paring losses after better than expected pending home sales (2.2% vs. 0.8% est) and Dallas Fed Mfg (3.4 vs. -3.0 est) data.
  • Major averages continue to see-saw inside trading ranges over the past ten days amid alternating position squaring flow heading into year end. Currently, the DJIA trades down 377.12 points (-0.88%) at 42616.8, S&P E-Minis down 61.5 points (-1.02%) at 5965.75, Nasdaq down 202.1 points (-1%) at 19519.81.
  • Consumer Discretionary and Materials sectors leg laggers in the first half, auto-related shares weighing on the former: Tractor Supply -2.45%, Tesla -2.27%, LKQ Inc -2.17% and BorgWarner -1.93%. Metals and mining shares weighed on the Materials sector: Albemarle -2.80%, Newmont Corp -2.33%, Freeport-McMoRan -2.15%.
  • On the positive side, Energy and Utility sectors outperformed, oil $ gas stocks buoyed the Energy sector as cride prices inched higher (WTI +0.58 at 71.18): EQT Corp +5.10%, Coterra Energy +3.73%, Devon Energy +2.18%. Meanwhile, independent power providers supported the Utility sector: Constellation Energy +0.14%.
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  • Stocks remain weaker but are trading off early session lows ahead midday Monday, paring losses after better than expected pending home sales (2.2% vs. 0.8% est) and Dallas Fed Mfg (3.4 vs. -3.0 est) data.
  • Major averages continue to see-saw inside trading ranges over the past ten days amid alternating position squaring flow heading into year end. Currently, the DJIA trades down 377.12 points (-0.88%) at 42616.8, S&P E-Minis down 61.5 points (-1.02%) at 5965.75, Nasdaq down 202.1 points (-1%) at 19519.81.
  • Consumer Discretionary and Materials sectors leg laggers in the first half, auto-related shares weighing on the former: Tractor Supply -2.45%, Tesla -2.27%, LKQ Inc -2.17% and BorgWarner -1.93%. Metals and mining shares weighed on the Materials sector: Albemarle -2.80%, Newmont Corp -2.33%, Freeport-McMoRan -2.15%.
  • On the positive side, Energy and Utility sectors outperformed, oil $ gas stocks buoyed the Energy sector as cride prices inched higher (WTI +0.58 at 71.18): EQT Corp +5.10%, Coterra Energy +3.73%, Devon Energy +2.18%. Meanwhile, independent power providers supported the Utility sector: Constellation Energy +0.14%.