Free Trial

Late Equities Roundup: Chip Stocks, Banks Continue to Buoy Market

US STOCKS
  • Stocks continued to gain in the second half, rising back to early Thursday levels in late Monday trade with banks and microchip stocks outperforming. Currently, DJIA is up 449.85 points (1.18%) at 38435.65, S&P E-Minis up 72.5 points (1.45%) at 5076, Nasdaq up 254.2 points (1.7%) at 15535.9.
  • Information Technology and Financial sectors led gainers in the second half, IT buoyed by chip stocks as they recovered from better selling late last week: Nvidia +4.64%, Enphase +3.69%, Seagate +3.08%. Banks supporting the former: Truist +3.89%, Citigroup +2.93%, Bank of America +2.41%.
  • Laggers: Materials and Real Estate sectors underperformed late, metals and mining stocks weighed on the former as Gold prices tumbled over $63.0 in late trade: Newmont -3.66%, Freeport McMoRan -0.43%. Meanwhile, real estate investment trusts weighed on the latter: Crown Castle -0.12%, Ventas -0.07%, Digital Realty Trust +0.2%.
  • Corporate earnings: Verizon and Albertsons announced ahead of the open, Nucor, Alexandria Real Estate, Globe Life after the close. Expected Tuesday: Pepsico, UPS, GM, Halliburton, Philip Morris, Pulte, Freeport McMoRan, Lockheed Martin, JetBlue, GE, Kimberly-Clark, Sherwin-Williams, Baker Hughes, Tesla, Texas Instruments, Visa, Enphase, Seagate.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.