August 13, 2024 18:51 GMT
Late Equities Roundup:
US STOCKS
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- Stocks continued to extend session highs in second half trade, shrugging off geopolitical risk/safe haven support for Tsys and data risk ahead of Wednesday's CPI as semiconductor makers continued to gain. Currently, the DJIA trades up 368.07 points (0.94%) at 39723.9, S&P E-Minis up 82.25 points (1.53%) at 5452 (August 2 highs), Nasdaq up 384.1 points (2.3%) at 17164.26.
- Information Technology and Consumer Discretionary sectors continued to lead gainers in late trade, semiconductor makers trading strong for the second day running: Nvidia +5.87%, Monolithic Power +5.35%, Intel +5.17%.
- Autos and consumer services led the Consumer Discretionary sector higher with Starbucks surging 21.75% higher after company officials announced former Chipotle CEO Brian Niccol will take the reins from Laxman Narasimhan. Elsewhere, Tesla +4.84% while Nike gained 5.0%.
- Conversely, Energy and Consumer Staples sectors continued to underperform, oil and gas stocks pared Monday gains as crude prices traded weaker (WTI -1.60 at 78.46): EQT Corp -3.55%, Coterra Energy -1.97%, Occidental Petroleum -1.92%. Retail distribution stocks weighed on the latter with Kroger -1.82%, Dollar Tree -1.74%, Walmart -1.41%.
- Still a number of earnings announcements expected this week: Brinker Int, Samsonite and Cisco late Wednesday; Walmart, Applied Materials and Deere & Co on Thursday.
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