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Equity Roundup: Resilient Despite Weak Data

US STOCKS
EquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed IncomeForeign Exchange

Stocks trading mixed at midday -- resilient after weaker data tempers more aggressive rate hikes after year end. SPX eminis off late morning highs, ESU2 currently -4.0 (-0.11%) at 3758.5 vs. 3797.25 high. DJIA -100.5 (-0.33%) at 30385.06; Nasdaq +35.3 (0.3%) at 11088.61.

  • Technicals: Bearish threat in S&P E-Minis remains present and the primary downtrend is intact. S/T gains are still considered corrective. Moving average studies are in a bear mode condition and recent fresh cycle lows point to a continuation of the trend.
  • The focus is on 3600.00 next, and below. Initial resistance is at 3843.00, the Jun 15 high. The next firm resistance is seen at 3903.24, the 20-day EMA. A break would signal scope for a stronger short-term recovery.
  • SPX leading/lagging sectors: Utilities rebound from weaker midweek performance (+1.72), followed by Consumer Staples (+1.33%) and Health Care (+1.26%). Laggers: Energy sector still underperforming (-4.86%) followed by Materials (-2.11%) and Financials (-1.72%).
  • Dow Industrials Leaders/Laggers: United Health Grp (UNH) extends week' rally, +5.53 to 495.21 -- after annc $1.5B purchase of health tech company EMIS on Tue. SalesForce (CRM) +2.97 at 170.42 and Home Depot (HD) +2.96 AT 271.94. Laggers: Chevron (CVX) -6.84 at 141.03, Caterpillar (CAT) -8.73 at 179.10
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Stocks trading mixed at midday -- resilient after weaker data tempers more aggressive rate hikes after year end. SPX eminis off late morning highs, ESU2 currently -4.0 (-0.11%) at 3758.5 vs. 3797.25 high. DJIA -100.5 (-0.33%) at 30385.06; Nasdaq +35.3 (0.3%) at 11088.61.

  • Technicals: Bearish threat in S&P E-Minis remains present and the primary downtrend is intact. S/T gains are still considered corrective. Moving average studies are in a bear mode condition and recent fresh cycle lows point to a continuation of the trend.
  • The focus is on 3600.00 next, and below. Initial resistance is at 3843.00, the Jun 15 high. The next firm resistance is seen at 3903.24, the 20-day EMA. A break would signal scope for a stronger short-term recovery.
  • SPX leading/lagging sectors: Utilities rebound from weaker midweek performance (+1.72), followed by Consumer Staples (+1.33%) and Health Care (+1.26%). Laggers: Energy sector still underperforming (-4.86%) followed by Materials (-2.11%) and Financials (-1.72%).
  • Dow Industrials Leaders/Laggers: United Health Grp (UNH) extends week' rally, +5.53 to 495.21 -- after annc $1.5B purchase of health tech company EMIS on Tue. SalesForce (CRM) +2.97 at 170.42 and Home Depot (HD) +2.96 AT 271.94. Laggers: Chevron (CVX) -6.84 at 141.03, Caterpillar (CAT) -8.73 at 179.10