July 03, 2024 15:32 GMT
Equities Roundup: Chip Makers Rebound
US STOCKS
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- Stocks are trading near steady (S&P Eminis) to mixed ahead midday, Nasdaq continues to outperform ahead the early session close (1300ET) Markets closed Thursday for the $th of July holiday. Currently, the DJIA is down 74.61 points (-0.19%) at 39255.65, S&P E-Minis up 8.5 points (0.15%) at 5577, Nasdaq up 85.7 points (0.5%) at 18113.28.
- Information Technology and Utilities sectors narrowly outperformed in the first half, semiconductor makers rebounding after seeing several consecutive sessions of profit taking, Broadcom +3.22%, First Solar +2.30%, Nvidia +2.15% while Micron gains 1.56%. Independent power providers led the Utilities sector with Vistra +4.31%, AES Power Corp +1.63%.
- Health Care and Consumer Staples sectors underperformed in the first half, pharmaceutical names weighing on the former for the second consecutive session: Regeneron Pharma -2.61%, Incyte Corp -2.32%, Eli Lilly -2.35%. Retail, staples distribution shares traded weaker: Walgreens Boots Alliance -3.24%, Dollar General -2.50%, Constellation Brands -2.22%.
- Reminder, the latest equity earnings cycle kicks off in earnest Friday next week, banks headline: Wells Fargo, Bank of NY Mellon, JP Morgan and Citigroup.
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