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Late Equities Roundup: Hugging Lows Into Month End, FOMC, EU Holiday

US STOCKS
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  • Stocks in the red after the bell - trader notes the S&Ps are "poised to halt a streak of five consecutive monthly gains". Treasury futures marked new lows into the close too amid broad based position squaring ahead of tomorrow's FOMC announcement.
  • Note: May Day holiday in Europe tomorrow, closings inconsistent across markets and asset classes (Eurex closed, but not ICE: Gilts re: FI) - that may be exacerbated by month end squaring.
  • Currently, DJIA is down 443.13 points (-1.15%) at 37941.46, S&P E-Minis down 55.25 points (-1.07%) at 5091.75, Nasdaq down 205 points (-1.3%) at 15775.96.
  • Energy and Consumer Discretionary sectors continued to underperform in late trade. Oil and Gas shares weighed on the Energy sector: Marathon Petroleum -7.66%, Phillips66 -4.76%, Valero -3.490%. Auto and parts makers weighed on the Consumer Discretionary sector: EV maker Tesla -4.98% after gaining 14.27% Monday, Ford -4.04%, GM -3.0% while parts makers Aptiv declined 2.44%, Borg Warner -1.96%.
  • Leading gainers: Health Care and Utilities sector shares continued to outperform in late trade: pharmaceuticals and biotech shares supported the former: after boosting revenue outlook for the year, Eli Lilly gained 5.72%, West Pharmaceutical Services +2.24%, AbbVie +0.41%. The Utilities sector was next up with CMS Energy +1.05%, AEP +0.73%, Public Services Enterprises +0.71%.
  • Expected corporate earnings announcements after today's close: Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs.
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  • Stocks in the red after the bell - trader notes the S&Ps are "poised to halt a streak of five consecutive monthly gains". Treasury futures marked new lows into the close too amid broad based position squaring ahead of tomorrow's FOMC announcement.
  • Note: May Day holiday in Europe tomorrow, closings inconsistent across markets and asset classes (Eurex closed, but not ICE: Gilts re: FI) - that may be exacerbated by month end squaring.
  • Currently, DJIA is down 443.13 points (-1.15%) at 37941.46, S&P E-Minis down 55.25 points (-1.07%) at 5091.75, Nasdaq down 205 points (-1.3%) at 15775.96.
  • Energy and Consumer Discretionary sectors continued to underperform in late trade. Oil and Gas shares weighed on the Energy sector: Marathon Petroleum -7.66%, Phillips66 -4.76%, Valero -3.490%. Auto and parts makers weighed on the Consumer Discretionary sector: EV maker Tesla -4.98% after gaining 14.27% Monday, Ford -4.04%, GM -3.0% while parts makers Aptiv declined 2.44%, Borg Warner -1.96%.
  • Leading gainers: Health Care and Utilities sector shares continued to outperform in late trade: pharmaceuticals and biotech shares supported the former: after boosting revenue outlook for the year, Eli Lilly gained 5.72%, West Pharmaceutical Services +2.24%, AbbVie +0.41%. The Utilities sector was next up with CMS Energy +1.05%, AEP +0.73%, Public Services Enterprises +0.71%.
  • Expected corporate earnings announcements after today's close: Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs.