Free Trial

Late Equities Roundup: Energy, Metals & Mining Outperform

US STOCKS
  • Stocks are trying to cling to firmer levels late Friday after S&P Eminis marked new contract highs Friday morning, accounts taking profits going into the weekend. Currently, S&P E-Minis are up 5.75 points (0.12%) at 5103.5 vs. 5123.5 high, DJIA up 46.65 points (0.12%) at 39113.27, Nasdaq down 19 points (-0.1%) at 16022.58.
  • Leading Gainers: Utilities and Materials sectors still outperformed in late trade, multi energy providers supported the former: Dominion Energy +3.99%, Eversource +1.7%, Edison Int +1.69%. Metals and mining shares supported the Materials sector: Steel Dynamics +1.86%, Nucor Corp +1.75%, Newmont Corp +1.42%.
  • Laggers: Consumer Discretionary and Energy sectors retreated from midweek gains, auto makers and consumer services weighed on the former sector: Tesla -2.44%, while Booking Holdings fell -10.01% after beating earnings but Middle East conflict weighed on room bookings. Meanwhile, Airbnb traded -2.06%. Meanwhile, oil and gas shares weighed on the Energy sector as crude prices traded weaker (WTI -2.19 at 76.42): EOG Resources -3.14%, Coterra -1.23%, Exxon-Mobil -0.86%.
  • Looking ahead: While the corporate earnings cycle continues to wind down, some big names remain: Berkshire Hathaway on Saturday. On Monday: Domino's Pizza, AES, SBA Communications, iRobot, and Everbridge Inc.

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.