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Late Equities Roundup: IT Shares Weighing, Earnings Resume Late

US STOCKS
  • Stocks have reversed first half gains and are trading mildly weaker, near late Thursday session lows. Currently, DJIA is down 21.21 points (-0.06%) at 37732.68, S&P E-Minis down 18.25 points (-0.36%) at 5044, Nasdaq down 87 points (-0.6%) at 15596.72.
  • Laggers: Information Technology and Consumer Discretionary sector shares underperformed in late trade. Information Technology shares weighed by chip and software makers: NXP Semiconductors -3.97%, Autodesk -3.32%, ON Semiconductors -2.93%, Micron -2.91%. Auto makers traded weaker late: Tesla -3.31%, GM -0.68%, Ford -0.30%.
  • Leading gainers: Interactive media and entertainment shares continued to buoy Communication Services in late trade: Paramount +2.22% Meta +1.52%, Comcast +1.18%. Meanwhile, Utilities recovered from first half weakness, outpacing Financials in late trade. Water and independent power providers lead gainers: American Water Works +1.22%, American Electric +1.03%, Pinnacle West +1.01%.
  • Reminder, corporate earnings expected after the close: Netflix, PPG Industries and Western Alliance Bancorp. On tap early Friday: Fifth Third Bancorp, American Express, Procter & Gamble, Community West Bancorp, Schlumberger and Huntington Bancshares.
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