May 14, 2024 15:19 GMT
Equities Roundup: Estate Management, Chip Makers Outperform
US STOCKS
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- Stocks trading moderately firmer ahead midday, off initial post-data lows as markets looked to PPI down revisions and soft airfare, insurance components. Currently, the DJIA is up 51.82 points (0.13%) at 39483.5, S&P E-Minis up 11.25 points (0.21%) at 5256.25, Nasdaq up 82.7 points (0.5%) at 16468.6.
- Leading Gainers: Real Estate and Information Technology sectors outperformed in the first half, estate management and investment trusts buoyed the former: Boston Property +1.75%, Healthpeak Properties +1.58%, Prologis +1.54%. Semiconductor stocks supported the IT sector in early trade: Enphase +3.71%, Qualcomm +1.88%, Teradyne +1.75%.
- Laggers: Energy and Consumer Staples sectors underperformed in the first half, oil and gas companies weighed on the former: Marathon Petroleum -4.41%, Diamondback Energy -1.29%, Philips66 -1.14%. Meanwhile, household products weighed on the latter, Clorox -1.42%, Church & Dwight -0.8%, Kimberly-Clark -0.74%.
- Late cycle earnings releases still expected this week: CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.
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