Free Trial

Late Equities Roundup Drifting Off Lows, Materials, Pharma Leading

US STOCKS
  • Stocks are drifting off late morning lows late Friday amid modest position squaring ahead the extended weekend, Materials and Health Care sectors outperforming. Currently, the DJIA is up 17.58 points (0.05%) at 38790.07, S&P E-Minis up 2.75 points (0.05%) at 5048.75, Nasdaq down 26 points (-0.2%) at 15879.98.
  • Leading gainers: Materials and Health Care sectors continued to lead gainers in the second half, construction materials shares buoyed the former: Vulcan Materials +5.89%, Albemarle +5.38%, Freeport-McMoRan +2.12%. Pharmaceuticals and biotech shares supported the Health Care sector: Bio-Rad Labs +8.65%, Eli Lilly +4.0%, West Pharmaceuticals +3.5%.
  • Laggers: Media and entertainment shares weighed on the Communication Sector for the second day running: Paramount -3.61% (down over 5% on the week after Berkshire Hathaway trimmed positions in Paramount as well as HP and Apple), Warner Brothers -2.42%, Meta -2.15%. Meanwhile, estate management shares weighed on the Real Estate sector: CBRE -1.23% (taking profits after gaining +7% Thursday on strong earning), Costar Group -0.61%.
  • Looking ahead: corporate earnings on tap next week include Home Depot and Walmart early Tuesday, followed by Caesars Entertainment, Diamondback Energy, Costar, Teladoc, Palo Alto Networks and Chesapeake Energy after the close.

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.