July 02, 2024 15:43 GMT
Equities Roundup: Tesla Deliveries Better Than Expected
US STOCKS
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- Stocks are near steady (S&P Eminis) to mixed at the moment, Nasdaq outperforming in the first half. Currently, the DJIA is down 10.9 points (-0.03%) at 39156, S&P E-Minis up 9.5 points (0.17%) at 5543.5, Nasdaq up 68.8 points (0.4%) at 17950.32.
- Consumer Discretionary and Staples sectors outperformed in the first half, automaker Tesla underpinning the discretionary sector as it rallied 8.6% on better than expected deliveries. Staples distribution and retail shares were modestly higher: Costco +0.85%, Sysco +0.72%, Walmart +0.25%.
- Health Care and Materials sectors underperformed in the first half, pharmaceutical names weighing on the former: Incyte Corp -2.94%, Eli Lilly and Regeneron Pharmaceuticals both -1.85%. Containers, packaging shares weighed on the former: Packaging Corp of America -1.48%, Amcor -1.04%, International Paper -0.83%.
- Reminder, the latest equity earnings cycle kicks off in earnest Friday next week, banks headline: Wells Fargo, Bank of NY Mellon, JP Morgan and Citigroup.
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