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Equities Roundup: Energy, Estate Management Shares Outperform

US STOCKS
  • Stocks have gradually see-sawed off early session lows Thursday, trading mildly higher at noon amid cautious month-end positioning ahead the extended Easter Holiday (markets closed Friday). Currently, DJIA is up 24.78 points (0.06%) at 39787.25, S&P E-Minis up 3.75 points (0.07%) at 5313.25, Nasdaq down 11.3 points (-0.1%) at 16392.72.
  • Leading Gainers: Energy and Real Estate sectors outperformed in early trade, oil and gas shares buoyed the former as crude prices traded higher (WTI +1.23 at 82.58): EQT Corp +2.13%, Marathon Oil +1.91%, Phillips66 +1.82%. Estate management shares supported the latter: Boston Properties +2.90%, Healthpeak Properties +1.88%, Essex Properties +1.24%.
  • Laggers: Media and entertainment shares continued to weigh on the Communication Services sector: Charter -2.23%, Netflix -1.41%, Meta -1.21%. Meanwhile, hardware makers weighed on the Information Technology sector: Seagate -1.74%, Apple -1.33%, Jabil -0.58%.
  • S&P Emini Technicals: The trend condition is unchanged and remains bullish. Recent gains reinforce this theme and the break of 5257.25, Mar 8 high, confirmed a resumption of the uptrend. Note that moving average studies remain in a bull-mode position reflecting positive market sentiment. Sights are on 5416.33, the top of a bull channel drawn from the Jan 17 low. Initial firm support is 5226.59, the 20-day EMA. A move lower is considered corrective.
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