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Late Equities Roundup: Extending Highs: IT & Energy Sectors Still LEading

US STOCKS
  • Stocks continue to extend late session highs, semiconductor stocks taking the lead in late trade. S&P Eminis are trading through technical resistance of 5192.16 (61.8% retracement of the Apr 1 - 19 bear leg) to 5199.50 -- April 15 highs, currently trades up 40.25 points (0.78%) at 5195.25, DJIA is up 158.35 points (0.41%) at 38835.29, Nasdaq up 140 points (0.9%) at 16295.83.
  • Leading gainers: Information Technology and Energy sectors continue to outperform in late trade where chip stocks continued to buoy the IT sector: Micron +4.39%, Nvidia +3.36%, Monolithic Power +3.03%. Oil and gas shares supported the Energy sector as crude prices held modest gains (WTI +0.29 at 78.40): APA Corp +1.93%, Marathon Oil +1.69%, Diamondback Energy +1.54%.
  • Laggers: Consumer Staples and Real Estate sectors continued to underperform in late trade, personal products shares weighed on Staples: carry-over selling for Estee Lauder -2.12%, Kenvue -0.96%, Kimberly-Clark -0.57%. Meanwhile, investment trusts weighed on the latter, particularly specialized and industrial REITS: Digital Realty -1.99%, Crown Castle -1.98%, American Tower -2.11%.
  • Salient earnings announcement expected after today's close: Spirit Airlines, Tyson Foods, JELD-WEN, Realty Income, Williams Cos, Primerica, Simon Property Goodyear Tire, Vertex, Microchip Technology. Early Tuesday: Rockwell Automation, Duke Energy.
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