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US STOCKS: Early Equities Roundup: Under Pressure

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Major averages are trading broadly lower following a couple rounds of program selling, indexes still off Monday's lows. Currently, the DJIA trades down 306.53 points (-0.71%) at 43021.34, S&P E-Minis down 75 points (-1.23%) at 6021.25, Nasdaq down 356.2 points (-1.8%) at 19665.
  • The sell-off coincided with a strong bid bounce in short to intermediate Treasuries - looking vaguely like portfolio asset allocation from EQs to Tsys, but no desks could confirm the swap.
  • Information Technology and Consumer Discretionary sectors underperformed in the first half, semiconductor shares weighing on the IT sector: Palantir Technologies -4.67%, Crowdstrike -3.75%, Suprt Micro Computers -3.64% while Nvidia and Broadcom declined 3.04% and 2.89% respectively.
  • Autos and creuise lines traded weaker for the second day running: Tesla -4.65%, Norwegian -3.42%, Royal Caribbean -2.71% and Carnival -2.61%.
  • Conversely, Energy and Materials sectors outperformed in the first half, oil & gas shares supported by a rebound in crude prices (WTI +0.50 at 70.12): Occidental +1.1%, Exxon Mobil +0.80%, Devon Energy +0.76%. Meanwhile, Chemical makers resisted the early selling with Eastman Chemical +0.55%, LyondellBasell +0.11%, Dow +0.10%.
  • Looking ahead, the next round of quarterly earnings kicks off mid-January with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 13-16.
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  • Major averages are trading broadly lower following a couple rounds of program selling, indexes still off Monday's lows. Currently, the DJIA trades down 306.53 points (-0.71%) at 43021.34, S&P E-Minis down 75 points (-1.23%) at 6021.25, Nasdaq down 356.2 points (-1.8%) at 19665.
  • The sell-off coincided with a strong bid bounce in short to intermediate Treasuries - looking vaguely like portfolio asset allocation from EQs to Tsys, but no desks could confirm the swap.
  • Information Technology and Consumer Discretionary sectors underperformed in the first half, semiconductor shares weighing on the IT sector: Palantir Technologies -4.67%, Crowdstrike -3.75%, Suprt Micro Computers -3.64% while Nvidia and Broadcom declined 3.04% and 2.89% respectively.
  • Autos and creuise lines traded weaker for the second day running: Tesla -4.65%, Norwegian -3.42%, Royal Caribbean -2.71% and Carnival -2.61%.
  • Conversely, Energy and Materials sectors outperformed in the first half, oil & gas shares supported by a rebound in crude prices (WTI +0.50 at 70.12): Occidental +1.1%, Exxon Mobil +0.80%, Devon Energy +0.76%. Meanwhile, Chemical makers resisted the early selling with Eastman Chemical +0.55%, LyondellBasell +0.11%, Dow +0.10%.
  • Looking ahead, the next round of quarterly earnings kicks off mid-January with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 13-16.