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Equity Roundup: Communication Services, IT Underperforming

US STOCKS

Stocks weaker, extending moderate session lows after the open to near Friday midday levels, Communication Services and Information Technology sectors underperforming. SPX eminis currently trading -34.25 (-0.88%) at 3877.75; DJIA -162.34 (-0.49%) at 32705.96; Nasdaq -166.8 (-1.5%) at 10937.9.

  • SPX leading/lagging sectors: Laggers: Communication Services (-1.99%) underperforming followed by Information Technology (-1.71%) after overnight headlines that Apple IPhone output in question on China Covid lockdown curbs. ON Semiconductor (ON) -6.62%, Western Digital (WDC) -4.11%, Qualcomm and Nvidia both -2.4%. Leaders: Energy sector (+1.41%) w/equipment and servicer names outperforming. Materials (-0.08%) and Financials (-0.17%) follow.
  • Dow Industrials Leaders/Laggers: Chevron (CVX) +2.29 at 182.27, Goldman Sachs (GS) +2.54 at 344.36, United Health (UNH) +1.76 at 553.00. Laggers: Amgen (AMGN) -4.34 at 269.47, Microsoft (MSFT) -3.53 at 232.34, Home Depot (HD) -3.24 at 295.41.

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