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US STOCKS: Equities Roundup: Risk Sentiment Sours on Tariff Tiff

US STOCKS
  • Stocks extended losses ahead midday Thursday, risk sentiment souring amid ongoing trade war uncertainty and recession concerns. Tsy Sec Bessent said "if trading partners want to ratchet things up, surplus countries will take the biggest hit".
  • Major indexes have retreated to mid-September 2024 levels this morning, the DJIA down 408.55 points (-0.99%) at 40935.37, S&P E-Minis down 58 points (-1.03%) at 5544.25, Nasdaq down 277.8 points (-1.6%) at 17363.49.
  • Consumer Discretionary and Communication Services sectors underperformed in the first half: the Discretionary sector weighed by Tesla -4.90%, Airbnb -4.79%, Home Depot -3.99% and CarMax -3.78%.
  • Communication Services reversed midweek gains as interactive media and entertainment shares traded weaker: Live Nation Entertainment -5.86%, Meta Platforms -3.59%, Alphabet and Warner Bros Discovery -2%.
  • Materials and Utilities outperformed by midday as tech stocks pared morning gains. Metals/mining shares buoyed the Materials sector as gold surged over $43 to appr 2980.0: Newmont Corp +5.29%, Freeport-McMoRan +4.62%, FMC +1.73%. Alternative energy supported the Utilities sector: AES +3.63%, Exelon +1.36% and FirstEnergy +1.15%.
  • Regarding tech stocks, Intel had surged over 18% after placement of new CEO: Lip-Bu Tan this morning currently trades +16.15 at 24.02.
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  • Stocks extended losses ahead midday Thursday, risk sentiment souring amid ongoing trade war uncertainty and recession concerns. Tsy Sec Bessent said "if trading partners want to ratchet things up, surplus countries will take the biggest hit".
  • Major indexes have retreated to mid-September 2024 levels this morning, the DJIA down 408.55 points (-0.99%) at 40935.37, S&P E-Minis down 58 points (-1.03%) at 5544.25, Nasdaq down 277.8 points (-1.6%) at 17363.49.
  • Consumer Discretionary and Communication Services sectors underperformed in the first half: the Discretionary sector weighed by Tesla -4.90%, Airbnb -4.79%, Home Depot -3.99% and CarMax -3.78%.
  • Communication Services reversed midweek gains as interactive media and entertainment shares traded weaker: Live Nation Entertainment -5.86%, Meta Platforms -3.59%, Alphabet and Warner Bros Discovery -2%.
  • Materials and Utilities outperformed by midday as tech stocks pared morning gains. Metals/mining shares buoyed the Materials sector as gold surged over $43 to appr 2980.0: Newmont Corp +5.29%, Freeport-McMoRan +4.62%, FMC +1.73%. Alternative energy supported the Utilities sector: AES +3.63%, Exelon +1.36% and FirstEnergy +1.15%.
  • Regarding tech stocks, Intel had surged over 18% after placement of new CEO: Lip-Bu Tan this morning currently trades +16.15 at 24.02.