June 14, 2024 16:02 GMT
Equities Roundup: Down, But Off Lows, IT/Software Remains Strong
US STOCKS
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- Stocks are trading modestly weaker ahead midday Friday, DJIA off the lowest levels since June 3, while S&P Eminis and Nasdaq are not far off all-time highs set earlier in the week. Currently, the DJIA is down 97.57 points (-0.25%) at 38551.13, S&P E-Minis down 14.25 points (-0.26%) at 5424.25, Nasdaq down 33 points (-0.2%) at 17635.73.
- Information Technology continues to lead gainers for the fourth consecutive session, software and services shares outperformed hardware and semiconductor makers this time: Adobe is currently up 14.34% after beating 2Q earnings late Thursday citing strong AI demand. Other gainers included ServiceNow Inc +2.61%, Salesforce Inc +1.58%, Accenture +1.43%.
- Meanwhile, interactive media and entertainment supported Communication Services in the first half: Netflix +3%, Google +0.97%, Paramount +0.82%.
- Industrials and Consumer Discretionary sectors underperformed in the first half, industrial and electric machinery shares weighed on the former: Parker-Hannifin -6.23%, Howmet Aerospace -5.52%, GE Vernova -5.14%.
- Auto- and parts makers weighed on the Consumer Discretionary sector: Aptiv -5.27%, Borg-Warner -4.92%, GM -2.83%, Tesla -2.63%.
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