Free Trial

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.
188 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • 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.