June 05, 2024 15:20 GMT
Equities Roundup: Chip Stocks, Cybersecurity Shares Lead Gainers
US STOCKS
Credit BulletsHomepageCreditEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
- Stocks are extending highs in late morning trade, rebounding off midmorning lows after mixed ISM Services data tempered risk appetites briefly. Currently, the DJIA is up 21.3 points (0.06%) at 38731.67, S&P E-Minis up 37 points (0.7%) at 5341, Nasdaq up 226.7 points (1.3%) at 17083.69.
- Information Technology and Communication Services sectors outperformed in the first half, semiconductor makers supporting the former: Applied Materials +4.50%, Sirst Solar +4.29%. Lam Research +4.47%, AMD +3.66%.
- Notable mention: cyber security company Crowdstrike surged 7.5% after beating Q1 results.
- Interactive media and entertainment shares buoyed the Communication Services sector: Meta +2.20%, Netflix +1.70%, News Corp +1.08%.
- On the flipside, Energy and Consumer Staples sector shares underperformed: Oil and Gas services stocks continued to lag with Halliburton -1.42%, Schlumberger -1.17%, Valero -1.18% while Exxon Mobil declined 0.86%. Household and personal products weighed on Staples as they unwound the prior session' support: Kenview -1.44%, Kimberly-Clark -1.19%, Clorox -0.96%.
- Meanwhile, notable earnings releases still to come this week: Five Below Inc, Semtech Corp, Victoria Secret, Toro, Vail Resorts and Docusign.
169 words