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Equity Roundup: Stocks Like BoE Gilt Buy Program

US STOCKS

Stock indexes trading stronger, near midday highs lead by rebound in Energy shares in-line w/ Crude (WTI +3.16 at 81.66) and Communication Services. Early bounce for equities triggered by BOE move to calm markets by buying longer Gilts. Currently, SPX eminis trade +55.25 (1.51%) at 3716; DJIA +448.4 (1.54%) at 29584.14; Nasdaq +142.4 (1.3%) at 10971.67.

  • Despite today's bounce, S&P E-Minis S&P E-Minis trend conditions remain bearish following last wk’s extension lower and current bearish follow through. The move strengthens bearish conditions and attention is on key support at 3657.00, Jun 17 low. This support has been pierced. A clear break would confirm a resumption of the broader downtrend and opens 3600.00 next. Initial firm resistance is at 3936.25, Sep 20 high. Short-term gains are considered corrective.
  • SPX leading/lagging sectors: Energy sector (+2.8%) gains after heavy selling last few sessions as crude trades higher: Hess Energy (HES) +4.89%, Marathon Petro (MPC) +4.82%, Valero (VLA) +4.76%. Communication Services up next (+2.47%) w/media/entertainment outpacing telecom services. Laggers: Information Technology (+0.19%) w/hardware makers underperforming, weighing on software and semiconductor names. Consumer Staples (+1.06%) and Utilities (+1.41%) up next.
  • Dow Industrials Leaders/Laggers: Carry-over bid for Home Depot (HD) +10.40 at 279.09, Goldman Sachs (GS) +8.09 at 299.47 and Boeing (BA) +4.86 at 132.27. Laggers: Apple (AAPL) -4.56 at 147.17 as they tone down IPhone production on softer demand, Salesforce.Com (CRM) steady at 148.89, Coca-Cola (KO) +0.17 at 56.55.
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Stock indexes trading stronger, near midday highs lead by rebound in Energy shares in-line w/ Crude (WTI +3.16 at 81.66) and Communication Services. Early bounce for equities triggered by BOE move to calm markets by buying longer Gilts. Currently, SPX eminis trade +55.25 (1.51%) at 3716; DJIA +448.4 (1.54%) at 29584.14; Nasdaq +142.4 (1.3%) at 10971.67.

  • Despite today's bounce, S&P E-Minis S&P E-Minis trend conditions remain bearish following last wk’s extension lower and current bearish follow through. The move strengthens bearish conditions and attention is on key support at 3657.00, Jun 17 low. This support has been pierced. A clear break would confirm a resumption of the broader downtrend and opens 3600.00 next. Initial firm resistance is at 3936.25, Sep 20 high. Short-term gains are considered corrective.
  • SPX leading/lagging sectors: Energy sector (+2.8%) gains after heavy selling last few sessions as crude trades higher: Hess Energy (HES) +4.89%, Marathon Petro (MPC) +4.82%, Valero (VLA) +4.76%. Communication Services up next (+2.47%) w/media/entertainment outpacing telecom services. Laggers: Information Technology (+0.19%) w/hardware makers underperforming, weighing on software and semiconductor names. Consumer Staples (+1.06%) and Utilities (+1.41%) up next.
  • Dow Industrials Leaders/Laggers: Carry-over bid for Home Depot (HD) +10.40 at 279.09, Goldman Sachs (GS) +8.09 at 299.47 and Boeing (BA) +4.86 at 132.27. Laggers: Apple (AAPL) -4.56 at 147.17 as they tone down IPhone production on softer demand, Salesforce.Com (CRM) steady at 148.89, Coca-Cola (KO) +0.17 at 56.55.