December 23, 2024 19:38 GMT
US STOCKS: Late Equities Roundup: Chip Stocks, Interactive Media Helps Rebound
US STOCKS
- Information Technology and Communication Services sectors continued to outperform Monday, helping major averages climb off this morning's lows, S&P Eminis nearing last Friday's early highs. Currently, the DJIA trades down 41.8 points (-0.1%) at 42801.29, S&P E-Minis up 24.25 points (0.4%) at 6026.5, Nasdaq up 170.5 points (0.9%) at 19744.49.
- Semiconductor makers continued to lead gainers in the second half with Broadcom gaining 5.39%, Advanced Micro Devices +4.75% after Rosenblatt named AMD, Meta and Micron as it's top picks for the first half of 2025. Meanwhile, Microchip Technology +4.07%, Monolithic Power +3.99% while Nvidia and Intel gained 3.50% and 3.40% respectively.
- Interactive media and entertainment shares buoyed the Communication Services sector with the aforementioned Meta gaining 2.46%, Alphabet +1.58%, News Corp +0.854%.
- Consumer Staples and Materials sectors continued to underperform in the second half, retail distribution shares lagging into the Christmas holiday: Walgreens Boots Alliance -3.30%, Dollar General -3.14%, Walmart -2.16%.
- Chemicals and mining shares weighed on the Mining sector: International Flavors & Fragrances -1.47%, FMC Corp and Corteva both -1.55%, while Newmont traded -0.47%.
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