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Equities Roundup: Post-Dat Risk-On Sees Eminis at April 1 Levels

US STOCKS
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  • Strong risk-on support for stocks that continue to extend session highs ahead midday after this morning's Retail Sales miss (and down-revisions to prior release) stole the spotlight from largely in-line CPI inflation data.
  • While 10Y Tsy yield has fallen to the lowest levels since prior to the "hot" CPI on April 10, S&P Eminis are back at levels not seen since April 1 this morning. Currently, the DJIA is up 235.13 points (0.59%) at 39793.43, S&P E-Minis up 44.5 points (0.84%) at 5314, Nasdaq up 161.3 points (1%) at 16672.58.
  • Information Technology and Real Estate sectors led gainers for the second consecutive session, chip stocks continue to buoy the former: Teradyne +3.57%, Nvidia +3.36%, KLA Corp +2.96%. Investment trusts buoyed the latter, particularly specialized and industrial REITS: SBA Communications +3.73%, American Tower +3.56%, Public Storage +2.77%.
  • Laggers: Consumer Discretionary and Consumer Staples sectors underperformed in early trade, autos and parts makers weighed on the former: Tesla -1.72%, Ford -1.41%, Aptiv -1.0%. Meanwhile, food & Beverage stocks weighed on Staples: Brown-Forman -2.70%, ADM -2.03%, Molson-Coors -1.55%.
  • Late cycle earnings releases still expected this week: CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.
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  • Strong risk-on support for stocks that continue to extend session highs ahead midday after this morning's Retail Sales miss (and down-revisions to prior release) stole the spotlight from largely in-line CPI inflation data.
  • While 10Y Tsy yield has fallen to the lowest levels since prior to the "hot" CPI on April 10, S&P Eminis are back at levels not seen since April 1 this morning. Currently, the DJIA is up 235.13 points (0.59%) at 39793.43, S&P E-Minis up 44.5 points (0.84%) at 5314, Nasdaq up 161.3 points (1%) at 16672.58.
  • Information Technology and Real Estate sectors led gainers for the second consecutive session, chip stocks continue to buoy the former: Teradyne +3.57%, Nvidia +3.36%, KLA Corp +2.96%. Investment trusts buoyed the latter, particularly specialized and industrial REITS: SBA Communications +3.73%, American Tower +3.56%, Public Storage +2.77%.
  • Laggers: Consumer Discretionary and Consumer Staples sectors underperformed in early trade, autos and parts makers weighed on the former: Tesla -1.72%, Ford -1.41%, Aptiv -1.0%. Meanwhile, food & Beverage stocks weighed on Staples: Brown-Forman -2.70%, ADM -2.03%, Molson-Coors -1.55%.
  • Late cycle earnings releases still expected this week: CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.