May 02, 2024 19:13 GMT
Late Equities Roundup: Extending Late Session Highs
US STOCKS
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- Stocks continue to extend late session highs with Information Technology and Consumer Discretionary sectors outperforming. Currently, DJIA is up 364.15 points (0.96%) at 38270.56, S&P E-Minis up 49.5 points (0.98%) at 5096, Nasdaq up 244.1 points (1.6%) at 15852.1.
- Leading gainers: Edging past IT stocks in late trade, Broadline retailers supported the Consumer Discretionary sector: Amazon +3.27%, TJX +1.19%, LKQ Corp +1.03%. On the flipside, Etsy's lackluster earnings saw shares tumble 15.89%. Chip stocks continued to buoy the IT sector in late trade: Qualcomm surged 9.77% after beating earnings late Wednesday in addition to positive forward guidance. Monolithic Power +9.66%, Nvidia +2.87%.
- Laggers: Materials and Health Care sectors continued to underperform in late trade: chemical stocks weighing on the former: Mosaic Cos -5.71%, CF Industries -5.40%, Linde PLC -4.60%. Meanwhile, pharmaceuticals shares weighed on the Health Care sector: Eli Lilly -2.45%, JNJ -0.93%, BMY -0.81%.
- Expected corporate earnings announcements after today's close: Apple Inc, Kellanova, Booking Holdings, Block, Ingersoll Rand, EOG Resources, Pioneer Natural Resources, Expedia, Cable One, Coinbase Global, US Steel, Amgen, Monster Beverage.
- Early Friday releases: Hershey, CBRE Group, Microchip Technology, B Riley Financial, Equinix, Cheniere Energy, CBOE Global.
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