February 26, 2025 16:47 GMT
US STOCKS: Early Equities Roundup: Semiconductor & Food Makers Outperforming
US STOCKS
- Stocks are moderately higher late Wednesday morning, putting the SPX Eminis near the middle of Monday's range and still well off last week's highs. Currently, the DJIA trades up 125.98 points (0.29%) at 43748.01, S&P E-Minis up 46.75 points (0.78%) at 6016.75, Nasdaq up 237 points (1.2%) at 19263.82.
- Information Technology and Consumer Discretionary sectors outperformed in the first half, semiconductor makers supporting the former with First Solar +11.41% after reporting a 27% revenue gain and positive guidance late Tuesday, Micron Technology +5.96% and Broadcom +4.83%. Note, NVIDIA gains 5.11% ahead of this afternoon's earnings announcement (1620ET).
- Underpinning the Consumer Discretionary sector, General Motors gained 5.59%, Ralph Lauren +4.41%, Tapestry +3.84%, while Chipotle Mexican Grill +3.77%.
- Conversely, Consumer Staples and Health Care sectors underperformed in the first half, food makers weighing on the former with Campbell's Company-3.67%, Hershey -3.48%, General Mills -3.02%. Profit taking in pharmaceuticals weighed on the Health Care sector: Merck & Co -2.14%, Biogen -1.87%, Amgen -1.82%.
- Earnings expected after the close: Howard Hughes Holdings, Magnite Inc, Agilent Technologies, Snowflake, Nutanix Inc, Synopsys, eBay, NVIDIA, Salesforce, Kratos Defense & Security, Paramount Global, Teladoc Health, Sweetgreen and Core Scientific.
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