Free Trial

Equities Roundup: Little Incentive to Extend Highs Ahead Weekend

US STOCKS
  • Stocks are trading mildly higher at midmorning, still off yesterday's record highs: S&P Eminis climbed to a new high of 5349.0, the Dow breached 40,000 for the first time to 40,048.11, Nasdaq all-time high of 16,796.95.
  • Near the top end of narrow ranges with no data and little incentive to test highs going into the weekend. Currently, the DJIA is up 36.49 points (0.09%) at 39905.77, S&P E-Minis up 2 points (0.04%) at 5323, Nasdaq up 11.1 points (0.1%) at 16710.19.
  • Materials and Energy sectors led gainers in the first half, metals and mining stocks supported the former with gold trading over $32 higher: Freeport McMoRan +2.71%, Newmont Corp +1.68%. Oil and gas shares buoyed the latter: Valero +2.74%, Marathon Petroleum +2.22%, Exxon +0.66%.
  • Laggers: Health Care and Consumer Staples sectors underperformed in the first half, equipment and services shares weighed on the former: Laboratory Corp of America -1.76%, Teleflex Inc -1.35%, Edwards Lifesciences -1.23%. Meanwhile, household and personal product makers weighed on Consumer Staples: Este Lauder -1.58%, Clorox -0.9%, Kenvue Inc -0.63%.
  • Late cycle corporate earnings expected next week: Zoom Video Conf, Palo Alto Networks, 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.