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Late Equities Roundup: Late Recovery, Extending Highs

US STOCKS
  • Stocks have bounced in late session trade, extending session highs with S&P Eminis nearing last week Wednesday levels. Little change in leading sectors compared to earlier in the session, the bounce coincided with President Biden's executive order to curb migrant crossings on the southern border. Currently, the DJIA is up 187.88 points (0.49%) at 38758.88, S&P E-Minis up 10 points (0.19%) at 5307.25, Nasdaq up 43.1 points (0.3%) at 16870.86.
  • Real Estate and Consumer Staples sectors continued to lead gainers in late trade, industrial and specialized investment trusts buoyed the former: Extra Space Storage +2.81%, Camden Property Trust +2.61%, Public Storage +2.25%. Household and personal product makers supported the Consumer Staples sector: Kimberly-Clark +2.60%, Colgate-Palmolive +1.51%, Clorox +1.46%.
  • Energy and Material sectors continued to underperform, oil and gas equipment and services shares weighing on the former as crude prices remained weak (WTI -0.83 at 73.39) after reports OPEC+ planned to restore output yesterday coupled with slow-down in demand. Halliburton -1.90%, Exxon Mobil -1.68%, Diamondback Energy -1.48%. Metals and mining shares weighed on Materials as gold prices fell over $24: Freeport-McMoRan -5.67%, Newmont -3.20%, Steel Dynamics -3.13%, FMC Corp -2.58%.
  • Meanwhile, there are still some notable earnings releases this week: Crowdstrike and Hewlett Packard after today's close, Dollar Tree, Campbell Soup, Five Below Inc, Victoria Secret, Toro, Vail Resorts and Docusign later in the week.
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