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US STOCKS: Equities Roundup: Scaling Back From New Record Highs

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks are trimming early gains, profit taking/position squaring ahead of the weekend after two of the three major averages had climbed to new record highs this morning: SPX Eminis at 6,111.00 and the Nasdaq at 19,851.36, while the DJIA climbed to 44,886.32 - off November 29 all-time high of 45,067.28.
  • Stocks gapped higher early Friday as markets welcomed the better than expected jobs gain (+227k vs. 220k est) announced in this morning's November employment report even as the unemployment rate inched up to 4.2% from 4.1%. On net, the data reinforced the view of a resilient labor market despite gradual cooling - which in turn supported expectations of steady rate cuts by the Federal Reserve.
  • Currently, the DJIA is down 80.25 points (-0.18%) at 44687.31, S&P E-Minis up 9.5 points (0.16%) at 6098, Nasdaq up 117.8 points (0.6%) at 19817.11.
  • Consumer Discretionary and Communication Services sectors led gainers in the first half, durables and apparel stocks buoyed the Discretionary sector with Lululemon surging 16.8% on overseas strength and several upgrades, Ulta Beauty +8.69% while Nike gained 3.18%. Interactive media and entertainment shares supported the Communication Services sector: Meta +1.92%, Live Nation +0.95% while Warner Bros +0.89%.
  • On the flip side, Energy and Utility sectors underperformed in the first half, oil & gas weighed on the former: Diamondback Energy -3.02%, Hess and APA both -2.5% while Devon Energy slipped 2.36%. Electricity and independent power shares weighed on the Energy sector: Eversource -1.83%, Edison Int -1.58%, Southern Co -1.49%.
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  • Stocks are trimming early gains, profit taking/position squaring ahead of the weekend after two of the three major averages had climbed to new record highs this morning: SPX Eminis at 6,111.00 and the Nasdaq at 19,851.36, while the DJIA climbed to 44,886.32 - off November 29 all-time high of 45,067.28.
  • Stocks gapped higher early Friday as markets welcomed the better than expected jobs gain (+227k vs. 220k est) announced in this morning's November employment report even as the unemployment rate inched up to 4.2% from 4.1%. On net, the data reinforced the view of a resilient labor market despite gradual cooling - which in turn supported expectations of steady rate cuts by the Federal Reserve.
  • Currently, the DJIA is down 80.25 points (-0.18%) at 44687.31, S&P E-Minis up 9.5 points (0.16%) at 6098, Nasdaq up 117.8 points (0.6%) at 19817.11.
  • Consumer Discretionary and Communication Services sectors led gainers in the first half, durables and apparel stocks buoyed the Discretionary sector with Lululemon surging 16.8% on overseas strength and several upgrades, Ulta Beauty +8.69% while Nike gained 3.18%. Interactive media and entertainment shares supported the Communication Services sector: Meta +1.92%, Live Nation +0.95% while Warner Bros +0.89%.
  • On the flip side, Energy and Utility sectors underperformed in the first half, oil & gas weighed on the former: Diamondback Energy -3.02%, Hess and APA both -2.5% while Devon Energy slipped 2.36%. Electricity and independent power shares weighed on the Energy sector: Eversource -1.83%, Edison Int -1.58%, Southern Co -1.49%.