April 22, 2024 18:40 GMT
Late Equities Roundup: Chip Stocks, Banks Continue to Buoy Market
US STOCKS
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- 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.
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