June 13, 2024 15:27 GMT
Equities Roundup:IT Leads After Broadcom Beat Late Wed, Adobe Up Next
US STOCKS
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- Stocks have pared early gains following this morning's lower than expected PPI inflation measures and higher than expected weekly jobless claims. Nasdaq still outperforming after rising to new all-time high of 17,737.94 in the first half.
- Currently, the Nasdaq is up 14.7 points (0.1%) at 17623.58, the DJIA down 267.74 points (-0.69%) at 38443.64, S&P E-Minis down 10.25 points (-0.19%) at 5417.25.
- Information Technology led gainers for the third consecutive session, hardware and semiconductor makers outperforming: Broadcom is currently up 13.3% after beating 2Q earnings late Wednesday while announcing a whopping $5.25/share quarterly dividend. Other gainers included Super Micro +6.87%, Arista Networks +3.81%.
- Sidenote: Adobe Inc reports Q2 earnings after the close.
- Real Estate sector shares lagged IT but outperformed peers as office and specialized investment trusts gained in the first half: Kimco Realty +1.43%, Equinix +1.28%, Regency Centers Group +0.97%.
- Industrials and Energy sectors underperformed in the first half, air and ground transportation shares weighing on the former: Uber -3.83%, United Airlines -3.48%, Delta Air -2.39%, American Air -2.22%. Oil refiners and servicer shares weighed on the Energy sector: Halliburton -3.04%, APA Corp -3.0%, Coterra Energy -2.33%.
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