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Late Equities Roundup: IT, Materials Remain Strong, Earning Wind Down

US STOCKS
  • Stocks are seeing some late position squaring sales ahead of the weekend (extended Spring holiday for Japan, UK and Ireland), stocks just off midmorning highs. Currently, DJIA is up 433.79 points (1.13%) at 38661.42, S&P E-Minis up 65 points (1.28%) at 5156.25, Nasdaq up 325.4 points (2.1%) at 16167.7.
  • Leading gainers: Information Technology and Materials sectors continued to outperform in late trade, chip stocks and hardware makers supporting the former: Apple +7.21% after an upbeat forecast and $110B share buyback annc, Enphase +6.26%, Motorola +5.02%, Nvidia +3.60%. Mining stocks buoyed the Materials sector: Steel Dynamics +3.27%, Freeport-McMoRan +2.79%, Albemarle +2.20%.
  • Laggers: Energy and Health Care sectors underperformed late trade, oil and gas shares weighed on the former: EOG Resources -1.46%, Targa Resources -1.09%, Chevron -0.99%. Equipment and services weighed on the Health Care sector: DaVita -4.31%, Cardinal Health -3.74% while Becton Dickenson declined 1.52%.
  • While the latest earning cycle is winding down, there are a few larger names to announce: Berkshire Hathaway on Saturday. On Monday: Spirit Airlines, Tyson Foods, Jeld-Wen, Realty Income, Williams Cos, Primerica, Simon Property Goodyear Tire, Vertex, Microchip Technology.
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  • Stocks are seeing some late position squaring sales ahead of the weekend (extended Spring holiday for Japan, UK and Ireland), stocks just off midmorning highs. Currently, DJIA is up 433.79 points (1.13%) at 38661.42, S&P E-Minis up 65 points (1.28%) at 5156.25, Nasdaq up 325.4 points (2.1%) at 16167.7.
  • Leading gainers: Information Technology and Materials sectors continued to outperform in late trade, chip stocks and hardware makers supporting the former: Apple +7.21% after an upbeat forecast and $110B share buyback annc, Enphase +6.26%, Motorola +5.02%, Nvidia +3.60%. Mining stocks buoyed the Materials sector: Steel Dynamics +3.27%, Freeport-McMoRan +2.79%, Albemarle +2.20%.
  • Laggers: Energy and Health Care sectors underperformed late trade, oil and gas shares weighed on the former: EOG Resources -1.46%, Targa Resources -1.09%, Chevron -0.99%. Equipment and services weighed on the Health Care sector: DaVita -4.31%, Cardinal Health -3.74% while Becton Dickenson declined 1.52%.
  • While the latest earning cycle is winding down, there are a few larger names to announce: Berkshire Hathaway on Saturday. On Monday: Spirit Airlines, Tyson Foods, Jeld-Wen, Realty Income, Williams Cos, Primerica, Simon Property Goodyear Tire, Vertex, Microchip Technology.