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Equities Roundup: DJIA at New All-Time Highs, Chip Stocks Strong

US STOCKS
  • Stocks are gaining again ahead midday, bouncing off this morning's post-data lows -- deemed more mixed than the initial hawkish reaction warranted. S&P Eminis and Nasdaq are off Thursday's new all-time highs (5,707.75 and 18,661.46 respectively) while the DJIA has climbed to new contract highs, overtaking the prior high of 40,065.18 from May 20.
  • Currently, the DJIA is up 336.01 points (0.83%) at 40090.75, S&P E-Minis up 46.5 points (0.82%) at 5686.5, Nasdaq up 200.7 points (1.1%) at 18484.55.
  • Information Technology and Consumer Discretionary sectors led gainers in the first half, semiconductor makers recovering from Thursday's profit taking: Monolithic Power +3.45%, Intel +3.36%, Enphase +3.33%. Auto makers supported the Consumer Discretionary sector: Ford +3.71% outpacing Tesla +3.04%, while GM gained 1.56%.
  • Conversely, Communication Services and Energy sectors underperformed in the first half, interactive media and entertainment pared midweek support with Meta -1.50%, Paramount -0.85%. Oil & Gas shares weighed on the Energy sector: Diamondback Energy -1.05%, Marathon Petroleum -0.87%, ConocoPhillips -0.64%.
  • Meanwhile, banks kicked off the latest earnings cycle this morning, mixed results for Wells Fargo -6.78%, JP Morgan -1.11% and Citigroup -2.71%, while Bank of NY Mellon surged 4.51%.
  • Next week sees Blackrock and Goldman Sachs on Monday; Bank of America, Charles Schwab, State Street and Morgan Stanley on Tuesday; Citizens Financial, US Bancorp, Discover Financial and Ally Financial on Wednesday; KeyCorp, M&T Bank and Blackstone on Thursday; Fifth Third, Regions Financial, Comerica, American Express and Huntington next Friday.

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