Free Trial

Late Equities Roundup: Inching Off Lows, Real Estate, Financials Lead

US STOCKS
  • Stocks are inching off lows in late trade, S&P Eminis near steady after profit taking in chip stocks knocked the index off new all time highs from this morning. Currently, DJIA is up 108.71 points (0.28%) at 38900.38, S&P E-Minis down 10.5 points (-0.2%) at 5151.25, Nasdaq down 90.6 points (-0.6%) at 16184.07.
  • Information Technology and Consumer Staples sectors continued to underperform in late trade, semiconductor makers that had buoyed markets all week traded lower as accounts booked profits: Broadcom -5.44% (-4.41%/wk), Nvidia -3.82% (still +5.70%/wk), Intel -2.45% (+0.44%/wk).
  • Distribution and retailers weighed on the Consumer Staples sector, Costco -7.23% even after booking quarterly sales of appr $60B. Dollar Tree traded -1.35% while Dollar General traded -0.99%.
  • Leading gainers: Real Estate and Financial sectors led gainers in late trade: estate management company CBRE Group +1.95%, SBA Comm +2.61%, Alexandria Real Estate +2.18%.
  • Banks and services shares rebounded from heavier selling in regionals earlier this week, Zion Bancorp +2.36%, Comerica +2.13%, Invesco +1.82%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.