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Late Equities Roundup: Extending Lows

US STOCKS
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  • Stocks are trading weaker and extending lows in late Thursday trade amid several rounds of program selling/profit taking ahead of the extended Memorial holiday weekend.
  • Higher than expected S&P Global US PMI data had sapped the early risk-on tone with S&P Eminis and Nasdaq indexes marking new all-time highs. Information technology sector shares buoyed stocks after Nvidia announced better than expected earnings late Wednesday.
  • Currently, the DJIA is down 621.32 points (-1.57%) at 39049.82, S&P E-Minis down 51.25 points (-0.96%) at 5276.5, Nasdaq down 106.7 points (-0.6%) at 16694.64.
  • Real Estate and Consumer Discretionary sector shares underperformed in the second half, REITs and estate management shares weighed on the former: Alexandria Real Estate and Boston Properties both -3.45%, Prologis -2.92%, VICI Properties -2.51%. Auto makers and parts suppliers weighed on the Consumer Discretionary sector: Tesla -3.43%, Borg Warner -1.95%, Aptiv -1.70%.
  • The IT sector continued to outperform in late trade led by semiconductor makers: strong AI demand helped Nvidia gain +9.39%, Synopsys +1.70%, Western Digital +1.05%. Materials sector resisted the sell-off better than Communication Services, with International Paper +5.08%.
  • Still some notable earnings announcements expected next week, including: Dick's Sporting Goods, Advanced Auto Parts, HP Inc, Salesforce, Agilent Technologies, Dollar General, Kohl's, Best Buy, Costco, The Gap, Nordstrom and Dell Technologies.
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  • Stocks are trading weaker and extending lows in late Thursday trade amid several rounds of program selling/profit taking ahead of the extended Memorial holiday weekend.
  • Higher than expected S&P Global US PMI data had sapped the early risk-on tone with S&P Eminis and Nasdaq indexes marking new all-time highs. Information technology sector shares buoyed stocks after Nvidia announced better than expected earnings late Wednesday.
  • Currently, the DJIA is down 621.32 points (-1.57%) at 39049.82, S&P E-Minis down 51.25 points (-0.96%) at 5276.5, Nasdaq down 106.7 points (-0.6%) at 16694.64.
  • Real Estate and Consumer Discretionary sector shares underperformed in the second half, REITs and estate management shares weighed on the former: Alexandria Real Estate and Boston Properties both -3.45%, Prologis -2.92%, VICI Properties -2.51%. Auto makers and parts suppliers weighed on the Consumer Discretionary sector: Tesla -3.43%, Borg Warner -1.95%, Aptiv -1.70%.
  • The IT sector continued to outperform in late trade led by semiconductor makers: strong AI demand helped Nvidia gain +9.39%, Synopsys +1.70%, Western Digital +1.05%. Materials sector resisted the sell-off better than Communication Services, with International Paper +5.08%.
  • Still some notable earnings announcements expected next week, including: Dick's Sporting Goods, Advanced Auto Parts, HP Inc, Salesforce, Agilent Technologies, Dollar General, Kohl's, Best Buy, Costco, The Gap, Nordstrom and Dell Technologies.