January 03, 2025 16:45 GMT
US STOCKS: Early Equities Roundup: Autos, Home Builders, Chip Stocks Gaining
US STOCKS
- Stocks are making moderate gains Friday, rebounding from Thursday's sell-off that saw S&P Eminis retreat to December 20 levels (early November lows).
- Currently, the DJIA trades up 270.4 points (0.64%) at 42662.86, S&P E-Minis up 61.25 points (1.04%) at 5978, Nasdaq up 276.1 points (1.4%) at 19555.75.
- Consumer Discretionary and Information Technology sectors outperformed early Friday, autos and home builders supporting the former: after falling over 6% Thursday Tesla bounced 3.26% while Ford gained 1.20%; builders saw Tapestry gained 2.26% while PulteGroup gained 2.14%.
- Semiconductor shares buoyed the IT sector: Super Micro Computer +5.06%, Palantir +4.89%, Jabil +4.16% and Nvidia +3.58%.
- On the flipside, Materials and Financials sectors underperformed in the first half, metals and mining shares weighing on the former: Nucor -1.62%, Freeport-McMoRan -1.48%. Weighing on the financials sector: State Street -0.79%, Northern Trust -0.61% while the Bank of NY Mellon slipped 0.44%.
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