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Late Equities Roundup: Gains Pared After Tsy Borrow Estimate Increase

US STOCKS
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  • Stocks reversed course, extend lows briefly before recovering slightly after the Tsy raises April-June borrow estimates to $243B from $202B. Not a big move for stocks, more caution in lead up to Wednesday's FOMC and jobs report this Friday. Currently, DJIA is up 76.31 points (0.2%) at 38317.08, S&P E-Minis up 0.25 points (0%) at 5132, Nasdaq up 6.1 points (0%) at 15934.19.
  • Leading gainers: Consumer Discretionary and Utilities sector shares continue to outperform in late trade, EV maker Tesla +14.27% and parts makers Aptiv +1.32%, Borg Warner +1.21% supported the Discretionary sector. Utilities were supported by independent power and electricity providers: NextEra Energy +2.09%, First Energy +1.32%, Dominion +1.29%.
  • Laggers: Communication Services and Financials sectors underperformed late: unwinding a portion of Friday's rally, Google receded -3.76%, Meta -3.22%, Netflix -1.09%. Financial Services shares underperformed late: Franklin Resources -5.96%, Invesco -2.32%, T Rowe Price -2.16%.
  • Expected corporate earnings announcements after today's close: SBA Communication, Paramount Global, Welltower and Transocean. the pace picks up Tuesday: Coca-Cola, Molson Coors, Sirius XM, McDonalds, Corning, PACCAR, Martin Marietta Materials, 3M, American Tower, GE Health, Sysco, Eli Lilly, PayPal Holdings, Archer-Daniels-Midland, Eaton Corp, Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs, Super Micro Computer.
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  • Stocks reversed course, extend lows briefly before recovering slightly after the Tsy raises April-June borrow estimates to $243B from $202B. Not a big move for stocks, more caution in lead up to Wednesday's FOMC and jobs report this Friday. Currently, DJIA is up 76.31 points (0.2%) at 38317.08, S&P E-Minis up 0.25 points (0%) at 5132, Nasdaq up 6.1 points (0%) at 15934.19.
  • Leading gainers: Consumer Discretionary and Utilities sector shares continue to outperform in late trade, EV maker Tesla +14.27% and parts makers Aptiv +1.32%, Borg Warner +1.21% supported the Discretionary sector. Utilities were supported by independent power and electricity providers: NextEra Energy +2.09%, First Energy +1.32%, Dominion +1.29%.
  • Laggers: Communication Services and Financials sectors underperformed late: unwinding a portion of Friday's rally, Google receded -3.76%, Meta -3.22%, Netflix -1.09%. Financial Services shares underperformed late: Franklin Resources -5.96%, Invesco -2.32%, T Rowe Price -2.16%.
  • Expected corporate earnings announcements after today's close: SBA Communication, Paramount Global, Welltower and Transocean. the pace picks up Tuesday: Coca-Cola, Molson Coors, Sirius XM, McDonalds, Corning, PACCAR, Martin Marietta Materials, 3M, American Tower, GE Health, Sysco, Eli Lilly, PayPal Holdings, Archer-Daniels-Midland, Eaton Corp, Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs, Super Micro Computer.