February 03, 2025 19:31 GMT
US STOCKS: Late Equities Roundup: Near Full Recovery, Mexico Tariff Delay
US STOCKS
- US Stocks have been climbing off this morning's lows ever since Mexican President Sheinbaum said tariffs are paused for a month from now, having said Mexico had a "good" call with Trump, which led to some "accords".
- The Trump administrations quixotic trade policies remain uncertain for Canada, China and the EU for that matter amid mixed negotiation headlines Monday after Trump signed orders for 25% tariffs over the weekend on Mexico & Canada, 10% on China.
- Currently, the DJIA trades down 0.94 points (0%) at 44545.04, S&P E-Minis down 25.75 points (-0.42%) at 6041, Nasdaq down 154.9 points (-0.8%) at 19473.01.
- Health Care and Consumer Staples sectors continued to lead gainers in late trade, IDEXX surged +11.2% after beating earnings and providing positive 2025 guidance, Molina Healthcare +3.86%, AbbVie +3.46%. The Consumer Staples sector was buoyed by Kroger +2.7%, Costco +2.69%, Tyson Foods +1.98%.
- Conversely, Information Technology and Consumer Discretionary sectors continued to underperform: tech laggers included Super Micro Computer -4.14%, Apple -3.22% while Dell declined 3.13%. Weighing on the Consumer Discretionary sector: Tesla -5.01%, Wynn Resort -3.59%, NVR -3.31%.
- Reminder, another heavy earnings docket this week includes the following on Monday-Tuesday: PepsiCo Inc, Archer-Daniels-Midland Co, Snap Inc, Alphabet, Match Group, Amgen Inc, Advanced Micro Devices, Lumen Technologies, Chipotle Mexican Grill, Juniper Networks Inc.
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