May 14, 2024 19:01 GMT
Late Equities Roundup: Marking Late Session Highs, Chip Stocks Leading
US STOCKS
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- Stocks have extended highs, SPX and DJIA rebounding in late trade after scaling back support early in the second half. Currently, the DJIA is up 130.29 points (0.33%) at 39565.68, S&P E-Minis up 22.25 points (0.42%) at 5268.75, Nasdaq up 119.3 points (0.7%) at 16508.22.
- Leading Gainers: Information Technology and Real Estate sectors continued to outperform in late trade, semiconductor stocks continued to supported the IT sector: Enphase +4.14%, Broadcom +2.86%, Qualcomm +2.43%. Investment trusts buoyed the former: Alexandria Real Estate +2.64%, Boston Property +2.28%, Simon Property Group +1.73%.
- Laggers: Energy and Consumer Staples sectors continued to underperform in late trade, oil and gas companies weighed on the former: Marathon Petroleum -3.06%, Diamondback Energy -1.50%, Hess -0.78%. Meanwhile, household products weighed on the latter, Clorox -2.22%, Kimberly-Clark -0.98%, Church & Dwight -0.83%.
- Late cycle earnings releases still expected this week: CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.
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