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Late Equities Roundup: IT Leads Stocks Off Early Lows

US STOCKS
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  • Stocks continued to climb off post-data/mid-morning lows. The DJIA catching up with S&P Eminis and Nasdaq indexes late as Information Technology sector shares leavened weaker Financial and Energy sectors.
  • Banks had led Wednesday morning's sell-off following an unexpected gain in Core CPI inflation data that saw projected rate cuts scale back chances of a 50bp move at next week's FOMC policy announcement.
  • Currently, the DJIA trades up 27.81 points (0.07%) at 40765.47, S&P E-Minis up 35 points (0.64%) at 5539. Nasdaq up 280.9 points (1.6%) at 17306.58.
  • Information Technology and Consumer Discretionary sector shares led gainers, renewed demand for high-end AI chips helped First Solar rally 14.66%, Super Micro +6.49% while Nvidia climbed 6.3%. Cruise lines buoyed the Consumer Discretionary sector: Norwegian +5.01%, Royal Caribbean +2.34%.
  • On the flipside, banks, insurance and financial services weighed on the Financial sector for the second day running amid ongoing concerns over interest income and credit challenges for lenders: Travelers -2.74%, Brown & Brown -2.67%, Chubb -2.48%.
  • Despite a bounce in crude following Tuesday's rout, Energy sector shares continued to lag amid ongoing surplus overhang concerns: Marathon Petroleum -2.92%, Valero -2.64%, Diamondback Energy -2.02%.
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  • Stocks continued to climb off post-data/mid-morning lows. The DJIA catching up with S&P Eminis and Nasdaq indexes late as Information Technology sector shares leavened weaker Financial and Energy sectors.
  • Banks had led Wednesday morning's sell-off following an unexpected gain in Core CPI inflation data that saw projected rate cuts scale back chances of a 50bp move at next week's FOMC policy announcement.
  • Currently, the DJIA trades up 27.81 points (0.07%) at 40765.47, S&P E-Minis up 35 points (0.64%) at 5539. Nasdaq up 280.9 points (1.6%) at 17306.58.
  • Information Technology and Consumer Discretionary sector shares led gainers, renewed demand for high-end AI chips helped First Solar rally 14.66%, Super Micro +6.49% while Nvidia climbed 6.3%. Cruise lines buoyed the Consumer Discretionary sector: Norwegian +5.01%, Royal Caribbean +2.34%.
  • On the flipside, banks, insurance and financial services weighed on the Financial sector for the second day running amid ongoing concerns over interest income and credit challenges for lenders: Travelers -2.74%, Brown & Brown -2.67%, Chubb -2.48%.
  • Despite a bounce in crude following Tuesday's rout, Energy sector shares continued to lag amid ongoing surplus overhang concerns: Marathon Petroleum -2.92%, Valero -2.64%, Diamondback Energy -2.02%.