August 27, 2024 15:22 GMT
Equities Roundup: Semiconductor Shares Rebound, Nvidia Reports Wed
US STOCKS
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- Stocks are trading off early Tuesday lows, the DJIA lagging modest gains in SPX and Nasdaq indexes ahead midday. Currently, the DJIA trades down 47.1 points (-0.11%) at 41192.6, S&P E-Minis up 3.5 points (0.06%) at 5640.5, Nasdaq up 27.3 points (0.2%) at 17752.16.
- Information Technology and Financial sectors lead gainers in the first half, semiconductor stocks recovering slightly after better selling over the last couple sessions: Monolithic Power +1.97%, Analog Devices +1.61%, Nvidia +1.24% (reporting quarterly earnings late Wednesday).
- Services companies buoyed the Financial sector: Berkshire Hathaway +1.03%, Fidelity National +0.98%, State Street +0.91%.
- On the flipside, Consumer Discretionary and Energy sectors underperformed in the first half: Tesla -1.62%, Amazon -1.42%, Dominos Pizza -1.36% weighed on the Discretionary sector.
- Energy sector shares pared Monday gains tied to Libya's force majeure action that underpinned crude prices. With oil weaker today (WTI -1.14 at 76.28), APA Corp -1.41%, Valero -0.92%, Haliburton -0.85%.
- Late cycle corporate earnings expected late Tuesday: Nordstrom Inc, SentinelOne Inc, PVH Corp and Semtech Corp. On Wednesday: Chewy Inc, Kohl's Corp, Foot Locker Inc, Veradigm Inc, Bath & Body Works Inc, Abercrombie & Fitch Co, NVIDIA Corp, Salesforce Inc, Five Below, HP, Victoria's Secret, NetApp and Crowdstrike Holdings.
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