April 26, 2024 18:35 GMT
Late Equities Roundup: Interactive Media, Chip Stocks Lead Gainers
US STOCKS
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- Stocks continue to see-saw higher late Friday, profit taking/position squaring ahead of the weekend knocks S&P Eminis off 5146.50 recent high -- the best level since Middle East tensions triggered risk-off sentiment on April 15. Currently, DJIA is up 189.68 points (0.5%) at 38276.64, S&P E-Minis up 52 points (1.02%) at 5134.5, Nasdaq up 309.4 points (2%) at 15921.94.
- Leading gainers: Recovering from better sell interest yesterday, Communication Services and Information Technology sectors continued to outperform in late trade: Google surged +9.65%, while AT&T, Verizon and Comcast gained +1.45%-1.55%. Chip stocks continued to extend gains for the fifth day running: Nvidia +5.91%, Teradyne +5.17%, KLA Corp +5.13%.
- Laggers: Energy and Utility sectors continued to underperform, oil equipment and services shares weighed on the former: Phillips66 -3.50%, Exxon Mobil -2.24%, Pioneer Natural Resources -1.63%. Utilities weighed down by electricity and multi-energy shares: Xcel Energy -1.47%, American Electric -1.36%, Eversource Energy -1.07%.
- Expected corporate earnings announcements surge early next week:
- Monday: Domino's Pizza, ON Semiconductor, SBA Communications;
- 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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