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Late Equities Roundup: IT, REITS Underperforming

US STOCKS
  • Stocks are mixed in late Friday trade, DJIA shares outperforming at the moment, SPX mildly weaker after topping the midweek contract high $1 to 4934.25, Nasdaq underperforming. Currently, DJIA is up 45.54 points (0.12%) at 38094.93, S&P E-Mini future are down 4 points (-0.08%) at 4919.5, Nasdaq down 39.8 points (-0.3%) at 15471.21.
  • Laggers: Information Technology and Real Estate sectors continued to underperform late Friday, chip stocks weighing on the former after seeing strong gains as a whole this week. Intel led laggers as it traded -12.17% after disappointing earning/outlook late Thursday, followed by several downgrades. Elsewhere, KLA Corp -5.72%, Teradyne -4.0%, Applied Materials -3.05%. Real Estate sector weighed by specialized and retail investment trusts: SBA Comm -1.93%, Crown Castle Inc -1.87%, Kimco Realty -1.05%.
  • Leading gainers: Health Care and Consumer Discretionary and sectors recovered some ground after Thursday selling. Biotechs and pharmaceuticals buoyed the Health Care sector: BioRad +5.42%, Catalent +4.17%, Danaher +3.77%. Meanwhile, broadline retailers outpaced autos in the second half: Bed&Bath +1.8%, CarMax +1.78%, Home Depot +1%. Auto parts makers buoyed the Discretionary sector earlier: Aptiv +1.8%, Borg-Warner +1.36%. Tesla had recovered slightly earlier after falling over -12% yesterday on dour sales guidance and several downgrades, is now -0.20%.
  • Looking ahead: flood of earnings announcements next week: Nucor Corp, Corning, Pfizer, UPS, GM, MSFT, Alphabet, Starbucks, Boeing, Boston Scientific. Mastercard, MetLife and Meta by Wednesday.
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