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Equity Roundup: Off Recent Lows, Wary Ahead Month End Rebalancing


Stocks off lows after nearly testing early session lows at midmorning, skittish trade as month-end portfolio rebalancing expected to draw better selling. SPX eminis currently trading +1.75 (0.04%) at 3990.25; DJIA -99.74 (-0.3%) at 32793.05; Nasdaq +24.7 (0.2%) at 11492.34.

  • SPX leading/lagging sectors: Utilities (-0.75%), Consumer Staples (-0.63%) and Health Care (-0.48%) underperforming, the former weighed by electric and multi-utility shares (CEG -2.46%, SRE -1.64%, EXC -1.30%); pharmaceuticals and biotechs weighing on the latter (MRK -1.87%, LLY -1.54%, PFE -1.32%).
  • Leaders: Real Estate (+.98%) lead by industrial and specialized REITs, Materials (+0.79%) and Communication Services (+0.59%) supported by interactive media/entertainment (META +2.96%, NFLX +0.50%).
  • Dow Industrials Leaders/Laggers: American Express (AXP) +1.11 at 174.41, Nike (NKE) +0.78 at 119.31, Visa (V) +0.42 at 220.77. Laggers: Goldman Sachs (GS) -8.58 at 356.95, United Health (UNH) -7.52 at 475.50, Merck (MRK) -2.06 at 107.31.

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