June 24, 2024 16:05 GMT
Equities Roundup: Energy, Financial Sectors Outperforming
US STOCKS
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- Equities are trading mixed ahead midday, the DJIA outperforming mildly weaker Nasdaq. Currently, the DJIA is up 351.54 points (0.9%) at 39500.03, S&P E-Minis up 16.25 points (0.29%) at 5549.75, Nasdaq down 34.7 points (-0.2%) at 17648.15.
- Energy and Financial sectors led gainers in the first half, oil & gas servicer shares supporting the former as crude inched higher (WTI +0.71 at 81.44): Schlumberger and APA Corp both +3.35%, Baker Hughes +3.07%, Occidental Petroleum + 2.84%.
- Financials sector buoyed by regional and diversified banks after better sell interest last week: Huntington Bancshares +2.18%, Citizens Financial Group +1.83%, Wells Fargo, Fifth Third and Regions Financial all +1.75%.
- On the flipside, Information Technology and Consumer Discretionary sectors underperformed, semiconductor shares weighing on the former: Despite Friday's four-fold upweighting in the SPDR S&P U.S. Technology Select Sector ETF (XLK), Nvidia traded -4.78%, Qualcomm -3.52%, Broadcom -2.48%.
- Meanwhile, broadline retailers lagged better gainers in the Consumer Discretionary sector: Home Depot -1.05%, Amazon -0.48%, Tractor Supply -0.36%.
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