Free Trial

Equities Roundup: Extending All-Time Highs, Chip Stocks Leading

US STOCKS
  • Stocks are climbing to new all-time highs ahead midday, Information Technology sector shares outperforming in the first half. Currently, the DJIA is up 26.74 points (0.07%) at 40031.88 (40073.06 high), S&P E-Minis up 15 points (0.28%) at 5342.25 (5348.25 high), Nasdaq up 98 points (0.6%) at 16783.33 (16804.15 high).
  • IT and Industrials sectors led gainers in the first half, semiconductor makers buoyed the former with Teradyne +4.85%, Micron +3.57% and Applied Materials +3.31%. Building product makers supported the Industrial sector: Johnson Controls +2.88% following news activist Elliot would build a $1B stake in the HVAC company, Carrier Global +1.63%, Trane Technologies +1.56%.
  • Laggers: Energy and Consumer Discretionary sectors underperformed in the first half, equipment and services shares weighed on the former: Schlumberger -0.68%, Baker Hughes -0.48%, Halliburton -0.45%. Meanwhile, automakers weighed on the Discretionary sector: Tesla -1.65, GM -0.44%, parts maker Borg-Warner -0.40%.
  • Reminder: a few late cycle corporate earnings expected this week: Zoom Video Conf and Palo Alto Networks after today's close. Later in the week: Macy's Inc, Lowe's Inc, AutoZone Inc, Target, Petco, Analog Devices, TJX, Synopsys, Nvidia, Autodesk, Dollar Tree Inc.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.