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Equities Roundup: Utilities, Consumer Discretionary Shares Outperform

US STOCKS
  • Stocks trading firmer at midday, off this morning's post-CPI knee-jerk lows and back near middle of the week's range so far. Currently, S&P E-Mini futures are up S&P E-Mini Future up 10.25 points (0.23%) at 4524, Nasdaq up 54.9 points (0.4%) at 13829.97, DJIA up 48.95 points (0.14%) at 34697.2.
  • Leaders: Utilities, Consumer Discretionary and Information Technology sectors outperformed in the first half. Natural gas shares lead the former with Duke Energy +1.15%, Ameren +1.1% and Southern Co +1.05%. Autos buoyed Consumer Discretionary sector, Ford outperformed Tesla for once, +3.17% vs. +1.69% respectively while DM gained 1.3%.
  • IT sector shares rebounded from better selling Tuesday, chip stocks and software makers outperforming hardware: Synopsis +2.6%, AMD +2.2%, NXP Semiconductor +2.05%. On the flipside, First Solar -2.65%, SolarEdge -2.4% and Enphase -2.33%.
  • Laggers: Energy, Real Estate and Materials sectors underperformed. Equipment and services lagged oil and gas shares after trading stronger the last couple sessions as crude prices soared (WTI currently +.25 at 89.10). Baker Hughes -1.55%, Schlumberger -1.35%. Equity real estate investment shares traded soft: Extra Space Storage -1.7%, Regency Centers -1.25 while Digital Realty slipped -1.2%.
  • Technicals, Despite Wednesday's bounce, a bear cycle in the E-mini S&P contract and short-term gains are considered corrective for now. A stronger sell-off would signal scope for a move towards the key support and bear trigger at 4397.75, the Aug 18 low. Clearance of this support would strengthen a bearish case.
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