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US STOCKS: Early Equities Roundup: Modestly Higher, Inside Narrow Ranges

US STOCKS
  • Major stock indexes trade modestly higher by midday Thursday, tech-heavy Nasdaq weaker as software and services shares underperformed.
  • Currently, the DJIA trades up 167.08 points (0.37%) at 44878.1, S&P E-Minis up 21.75 points (0.36%) at 6089.25, Nasdaq up 15.8 points (0.1%) at 19645.8.
  • Real Estate and Utilities sectors led gainers in the first half of trade, investment trusts, particularly office and residential supported the former: after reporting strong post-pandemic leasing numbers BXP Inc gained 5.37%, Public Storage +2.51%, Equity Residential +2.28%.
  • Independent power and electricity providers buoyed the Utility sector: Vistra rebounding +9.72% after suffering heavy losses earlier in the week (-28% at one point), Constellation Energy +5.35%, NRG Energy +3.66%.
  • As noted above, software and services shares weighed on the Information Technology sector: ServiceNow Inc -13.08%, Teradyne -7.63%, Microsoft -6.18%. Helping soften the sell-off, IBM surged 12.61%, Roper +6.72% while Oracle gained 4.33%.
  • Earnings on tap after the close: Weyerhaeuser, Deckers Outdoor Corp, KLA Corp, Apple, ResMed, LPL Financial Holdings, Arthur J Gallagher, PPG Industries, Visa Inc, Intel Corp, United States Steel, Boot Barn Holdings and Baker Hughes Co.
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  • Major stock indexes trade modestly higher by midday Thursday, tech-heavy Nasdaq weaker as software and services shares underperformed.
  • Currently, the DJIA trades up 167.08 points (0.37%) at 44878.1, S&P E-Minis up 21.75 points (0.36%) at 6089.25, Nasdaq up 15.8 points (0.1%) at 19645.8.
  • Real Estate and Utilities sectors led gainers in the first half of trade, investment trusts, particularly office and residential supported the former: after reporting strong post-pandemic leasing numbers BXP Inc gained 5.37%, Public Storage +2.51%, Equity Residential +2.28%.
  • Independent power and electricity providers buoyed the Utility sector: Vistra rebounding +9.72% after suffering heavy losses earlier in the week (-28% at one point), Constellation Energy +5.35%, NRG Energy +3.66%.
  • As noted above, software and services shares weighed on the Information Technology sector: ServiceNow Inc -13.08%, Teradyne -7.63%, Microsoft -6.18%. Helping soften the sell-off, IBM surged 12.61%, Roper +6.72% while Oracle gained 4.33%.
  • Earnings on tap after the close: Weyerhaeuser, Deckers Outdoor Corp, KLA Corp, Apple, ResMed, LPL Financial Holdings, Arthur J Gallagher, PPG Industries, Visa Inc, Intel Corp, United States Steel, Boot Barn Holdings and Baker Hughes Co.