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Equity Roundup: Mixed Index Levels, Earnings Beats

US STOCKS

Equity indexes trading weaker at the moment - extending session lows just minutes after nearly making new session highs (ESM2 4453.75 vs. 4455.25 overnight). Some desks cited the rebound in Tsy yields (30YY taps 2.8975%) and curves bouncing off flatter levels for sell trigger.

  • SPX still below 50-day EMA that intersects at 4451.78 today - extended lows last half hour: ESM2 at 4416.5 (-25.75), focus on key support of 4362.63, 50.0% retracement of the Feb 24 - Mar 29 rally.
  • Earning picked up in earnest this morning -- several bank names included, (USB, WFC, MS, GS and C) all beating estimates.
  • SPX leading/lagging sectors: Industrials sector (+0.27%) lead by transportation w/ airlines adding to Wed's rally on increased demand despite higher operating costs. Consumer Staples (+0.22%) up next lead by food, beverage and tobacco.
  • Laggers: Information Technology sector (-1.0%) as supply chain woes for chips weighing on semiconductor and hardware makers.
  • Meanwhile, Dow Industrials currently trade +128.95 (0.37%) at 34691.72, Nasdaq -161.7 (-1.2%) at 13482.3.
  • Dow Industrials Leaders/Laggers: UnitedHealth Grp (UNH) climbs +8.0 to 545.0 posts higher earnings and raises guidance 2Q. Caterpillar (CAT) +4.84 to 223.11. Techs weaker: Microsoft (MSFT) -4.40 at 283.22, Apple (AAPL) -1.80 at 168.60.
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