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Late Equities Roundup: Late Position Squaring Tempers Record Highs

US STOCKS
  • US major averages are trading near steady to mixed on modest position squaring after climbing to record highs in the first half. Stocks ignored this morning's mixed data as the S&P Eminis climbed to a new high of 5349.0, the Dow breaching 40,000 for the first time to 40,048.11, while the Nasdaq marked a new all-time high of 16,796.95.
  • Currently, the DJIA is up 25.99 points (0.07%) at 39932.93, S&P E-Minis down 1.75 points (-0.03%) at 5331, Nasdaq down 12.2 points (-0.1%) at 16730.23.
  • Consumer Staples and Real Estate sectors continued to lead gainers in late trade, big box retailers buoyed the former with Walmart gaining over 6.9% after sales rose 3.8%, Dollar General +3.49%, Target +3.06%. Estate management and Investment trusts buoyed the latter for the third consecutive session: American Tower +1.61%, Prologis +1.41%, Host Hotels +1.14%.
  • Laggers: Materials and Industrials sectors underperformed in early trade, Martin Marietta Materials -4.73%, Vulcan Materials -3.87%, Freeport McMoRan -2.46%. Meanwhile, the Industrials sector weighed by United Rentals -4.24%, Deere -4.06% after cutting it's full-year earnings outlook, Hubble -3.27%.
  • Meme stocks in the headlights: GameStop -24.5% and AMC Entertainment -12%.
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