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Late Equities Roundup

US STOCKS
  • Equities remain mixed after the bell, the Nasdaq outperforming as the DJIA completely reverses Monday's rally. Currently, the DJIA is down 254 points (-0.64%) at 39156.9, S&P E-Minis up 14.75 points (0.27%) at 5532, Nasdaq up 202.7 points (1.2%) at 17699.91.
  • Information Technology and Communication Services sectors continued to lead gainers in late trade, Semiconductor stocks supported the IT sector as they recovered from better selling since last Friday: more than recovering from Monday's selling -- Nvidia trades +5.89% after Monday's near 5% decline. Meanwhile KLA Corp +2.99%, Monolithic Power +2.67%.
  • interactive media and entertainment shares buoyed the former: Google +2.18%, Meta +12.15%, Meta +2.01% Charter Communications +1.26%.
  • On the flipside, Real Estate and Materials sectors continued to underperform in late trades, investment trusts weighing on the former: Weyerhaeuser -2.67%, Healthpeak Properties -2.54%, SBA Communications -2.34%.
  • Metals and mining shares weighed on the Materials sector: Nucor -2.69%, Steel Dynamics -2.09%, Newmont Corp -1.31%.
  • The trend condition in S&P E-Minis is unchanged and remains bullish with the contract trading closer to its recent highs. Price has recently cleared 5430.75, the May 23 high and bull trigger. This confirmed a resumption of the uptrend. Note that moving average studies remain in a bull-mode position too, highlighting positive market sentiment. Sights are on 5594.66 next, a Fibonacci projection. Initial support to watch lies at 5458.51, the 20-day EMA.
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