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Equities Roundup: Energy, Materials and Financial Shares Lagging

US STOCKS
  • Stocks indexes are holding weaker levels at the moment, near midmorning lows as Energy sector shares underperform. Currently, DJIA shares are down -293.76 points (-0.83%) at 35013.22, S&P E-Mini futures down 40.75 points (-0.9%) at 4465, Nasdaq down 107.1 points (-0.8%) at 13681.23.
  • Laggers: Energy, Materials and Financial sectors underperformed, weaker crude prices (WTI -1.85 at 80.66) weighed on Energy shares: Valero -4.37%, Marathon Petroleum -4.35%, Exxon -3.3% early in the second half. Metals and Mining shares weighed on the Materials sector: Freeport-McMoRan -3.6%, Steel Dynamics -2.7%, Newmont -2.0%.
  • Meanwhile, banks and financial services stocks weighed on Financials sector: Discovery Financial -10.3% after CEO Roger Hochschild announced his resignation late Monday. Other laggers: PayPal -4.55%, Comerica -4.15%, KeyCorp -4.1%.SPDR regional bank ETF KRE -1.43 at 45.43 - mid-July lows.
  • Leading gainers: Health Care and Information Technology sectors outperformed with pharmaceutical and biotech shares buoying the former: Amgen +1.7%, ResMed +1.35%, Ely Lily +1.25%. Meanwhile, semiconductor and software makers underpinned IT: Oracle +1.9%, Nvidia +1.65%. Ongoing support for Nvidia after late Monday headline: "Saudi Arabia and UAE race to buy Nvidia chips to power AI ambitions", Bbg.
  • Reminder, quarterly earnings still this week from Synopsys, Cisco Systems, Applied Materials and Palo Alto Networks Inc.
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