January 16, 2025 20:00 GMT
US STOCKS: Late Equities Roundup: Autos, Media Shares Underperform
US STOCKS
- Stocks are drifting near steady to modestly negative territory late Thursday, off lows amid position squaring ahead of the Federal Reserve's self imposed policy Blackout late Friday and Trump's inauguration next Monday.
- Currently, the DJIA trades down 25.2 points (-0.06%) at 43196.13, S&P E-Minis up 1.25 points (0.02%) at 5990.5, Nasdaq down 61.5 points (-0.3%) at 19449.95.
- Consumer Discretionary and Communication Services sectors continued to underperform as accounts took profits following gains over the last couple sessions. Autos weighed on the discretionary sector with Tesla -3.68%, BorgWarner -1.58%, AutoZone -1.07%. Warner Brothers -2.35%, Paramount -1.92% and Walt Disney -1.59% weighed on the Communication Services sector.
- On the positive side, Utility and Real Estate sectors led gainers at midday, independent power and electricity providers supporting the former: Constellation Energy +4.89%, Vistra +3.79%, NextEra Energy +2.94%. Estate management shares, particularly specialized and industrial REITs supported the Real Estate sector: American Tower +4.82%, Crown Castle +3.73%, Iron Mountain +3.38%.
- Meanwhile, corporate earnings resume Friday with JB Hunt Transportation, Citizens Financial, Truist Financial, Huntington Bancshares, Fastenal, Schlumberger and State Street Corp announcing before the open.
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