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Equities Roundup: Strong Chip Stocks Outweigh Health Care Losses

US STOCKS
  • Stocks trading mixed after bouncing off midweek lows to near midrange for the week, strong gains in Information Technology sector shares outweighing weakness in the Health Care Sector Thursday. Currently, DJIA is down 67.08 points (-0.18%) at 37207.29, S&P E-Mini futures up 14 points (0.29%) at 4786.75, Nasdaq up 154.5 points (1%) at 15010.51.
  • Leading gainers: Chip stocks and hardware makers led gainers in the IT sector early Thursday as AI demand remained strong: KLA Corp +3.76%, Monolithic Power +3.45%, Applied Materials +2.92% while Apple gained 2.65%. Meanwhile, interactive media and entertainment buoyed Communication services: Charter Communications +2.13%, Meta +1.79%, Warner Bros +1.28%.
  • Laggers: Health Care and Utility sectors underperformed in the first half. Reversing prior session gains, equipment and service providers weighed the Health Care sector: Humana down a whopping -11.1% as higher patient care costs sapped earning, CVS -4.37%, UnitedHealth -3.24%. Multi-power and water providers weighed on the Utility sector: Dominion -1.36%, Ameren Corp -1.29%, American Water -1.25%.
  • Corporate earnings: PPG Industries and JB Hunt are expected to report after the close.
  • Technicals: S&P E-Minis have traded lower this week but - for now - price remains above the Jan 5 low. Key resistance and the bull trigger is unchanged at 4841.50, the Dec 28 high. A break of this level would resume the uptrend and open 4854.75, a Fibonacci projection. Support at the 20-day EMA of 4773.33 has been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4687.54.
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