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Equities Roundup: Paring Early Gains Post UofM Data, Still up on Week

US STOCKS
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  • Stocks have reversed early gains following the higher than expected UofM inflation expectations and weaker consumer sentiment, currently steady to mixed with Information Technology and Financials outperforming. Currently, the DJIA is up 79.64 points (0.2%) at 39465.62, S&P E-Minis up 1.75 points (0.03%) at 5241.0, Nasdaq down 23.6 points (-0.1%) at 16322.75.
  • Leading Gainers: IT and Financial sectors outperformed in the fist half. Semiconductor makers generally outperformed in the first half with Broadcom +1.91%,m Micron +1.44%, Applied Materials +1.22%. But cyber security provider Gen Digital soared 15.34% after better than expected earnings announced late Thursday. Shares of banks and insurance companies buoying the former: Invesco, Brown & Brown and BlackRock all up 1.30-1.25%, AON +1.08% while Arthur Gallagher +1.04%.
  • Laggers: Communication Services and Consumer Discretionary sectors underperformed in the first half, interactive media and entertainment weighed on the communication sector: Live Nation -1.89%, Google -1.35%, Meta -0.95%. Meanwhile, auto makers weighed on the discretionary sector: Tesla -2.29%, Ford -0.95% while parts maker Aptiv declined 0.65%.
  • Late cycle earnings releases expected next week include: Home Depot, CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.
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  • Stocks have reversed early gains following the higher than expected UofM inflation expectations and weaker consumer sentiment, currently steady to mixed with Information Technology and Financials outperforming. Currently, the DJIA is up 79.64 points (0.2%) at 39465.62, S&P E-Minis up 1.75 points (0.03%) at 5241.0, Nasdaq down 23.6 points (-0.1%) at 16322.75.
  • Leading Gainers: IT and Financial sectors outperformed in the fist half. Semiconductor makers generally outperformed in the first half with Broadcom +1.91%,m Micron +1.44%, Applied Materials +1.22%. But cyber security provider Gen Digital soared 15.34% after better than expected earnings announced late Thursday. Shares of banks and insurance companies buoying the former: Invesco, Brown & Brown and BlackRock all up 1.30-1.25%, AON +1.08% while Arthur Gallagher +1.04%.
  • Laggers: Communication Services and Consumer Discretionary sectors underperformed in the first half, interactive media and entertainment weighed on the communication sector: Live Nation -1.89%, Google -1.35%, Meta -0.95%. Meanwhile, auto makers weighed on the discretionary sector: Tesla -2.29%, Ford -0.95% while parts maker Aptiv declined 0.65%.
  • Late cycle earnings releases expected next week include: Home Depot, CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.