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Equities Roundup: Near Steady Ahead Triple Witching, Nvidia Reweight

US STOCKS
  • Stocks continue to trade near steady to mildly higher with the Nasdaq outperforming at midday Friday. Markets alert for late session volatility as they head into the "triple witching" expiration of quarterly stock options, index futures and index options today.
  • Focus on the SPDR S&P U.S. Technology Select Sector UCITS ETF (XLK) reweighting swap of Nvidia from approximately 5% to 20% while Apple will drop from 20% to 5% today -- roughly a $10B swap in stocks between the two. At the moment, Nvidia trades -0.76% while Apple trades +0.82%
  • Currently, the DJIA is down 4.62 points (-0.01%) at 39131.42, S&P E-Minis down 3.75 points (-0.07%) at 5541.25, Nasdaq up 33.9 points (0.2%) at 17756.63.
  • Communication Services and Consumer Discretionary sectors lead gainers in the first half, Information Technology shares not far behind. Interactive media and entertainment shares supported the former: Google +2%, Match Group +1.67%, Take Two Interactive +0.98%.
  • Broadline retailers buoyed the Discretionary sector with Etsy +2.46%, Tractor Supply Co +1.32%, Amazon +1.03%. Meanwhile, hardware/software shares supported the IT sector: Jabil +2.81%, Microchip Technology +2.67%, Palo Alto Networks +2.31%.
  • On the flipside, Financials and Utilities underperformed in the first half, bank shares weighing on the former: JPM -2.12%, Citigroup -1.72%, Wells Fargo -1.59%.Independent and multi-energy providers weighed on Utilities: AES -2.20%, Vistra -1.52%, PC&G -1.37%.
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