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Late Equities Roundup: Energy & Industrials Continue to Lag

US STOCKS
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  • Stocks remain mixed in late Monday trade, the DJIA and S&P Eminis lagging mildly higher Nasdaq stocks after this morning's weaker economic data. Stocks reversed opening gains after lower than anticipated ISM Manufacturing and Construction Spending data dampened risk appetites but spurred projected rate cut pricing by year end.
  • Currently, the DJIA is down 221.68 points (-0.57%) at 38463.93, S&P E-Minis down 16 points (-0.3%) at 5279.75, Nasdaq up 16.1 points (0.1%) at 16750.56.
  • Energy and Industrials sectors continue to underperform in late trade, oil and gas equipment and services shares weighing on the former as crude prices gapped lower (WTI -2.86 at 74.13) amid reports OPEC+ planned to restore output. Diamondback Energy -5.02%, Haliburton -5.26%, Schlumberger -3.79% and Baker Hughes -4.05%.
  • Construction and engineering shares weighed on Industrials: Builders FirstSource Inc -5.0%, United Rentals -4.52%, Parker-Hannifin -3.98%.
  • On the flipside, Health Care and Information Technology sectors continued to outperform, pharmaceuticals and biotech shares buoyed the former: Moderna +3.92%, Vertex +2.86%, Bristol Myers +2.46%. Meanwhile, semiconductor stocks supported IT: Nvidia gained 3.70% after announcing a 10-fpr-1 stock split Friday, Micron +1.45% First Solar +0.85%.
  • Still some notable earnings releases this week: Bath & Body Works, Crowdstrike, HP, Dollar Tree, Campbell Soup, Five Below Inc, Victoria Secret, Toro, Vail Resorts and Docusign.
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  • Stocks remain mixed in late Monday trade, the DJIA and S&P Eminis lagging mildly higher Nasdaq stocks after this morning's weaker economic data. Stocks reversed opening gains after lower than anticipated ISM Manufacturing and Construction Spending data dampened risk appetites but spurred projected rate cut pricing by year end.
  • Currently, the DJIA is down 221.68 points (-0.57%) at 38463.93, S&P E-Minis down 16 points (-0.3%) at 5279.75, Nasdaq up 16.1 points (0.1%) at 16750.56.
  • Energy and Industrials sectors continue to underperform in late trade, oil and gas equipment and services shares weighing on the former as crude prices gapped lower (WTI -2.86 at 74.13) amid reports OPEC+ planned to restore output. Diamondback Energy -5.02%, Haliburton -5.26%, Schlumberger -3.79% and Baker Hughes -4.05%.
  • Construction and engineering shares weighed on Industrials: Builders FirstSource Inc -5.0%, United Rentals -4.52%, Parker-Hannifin -3.98%.
  • On the flipside, Health Care and Information Technology sectors continued to outperform, pharmaceuticals and biotech shares buoyed the former: Moderna +3.92%, Vertex +2.86%, Bristol Myers +2.46%. Meanwhile, semiconductor stocks supported IT: Nvidia gained 3.70% after announcing a 10-fpr-1 stock split Friday, Micron +1.45% First Solar +0.85%.
  • Still some notable earnings releases this week: Bath & Body Works, Crowdstrike, HP, Dollar Tree, Campbell Soup, Five Below Inc, Victoria Secret, Toro, Vail Resorts and Docusign.