January 30, 2025 19:47 GMT
US STOCKS: Late Equities Roundup: Near Highs, Focus on Latest Earnings
US STOCKS
- Stocks held firmer levels late Thursday, just off session highs as Real Estate and Utilities sectors remained supportive while software and services shares continued to weigh on tech-heavy Nasdaq.
- Focus on earnings after the close from Weyerhaeuser, Deckers Outdoor Corp, KLA Corp, Apple, ResMed, LPL Financial Holdings, Arthur J Gallagher, PPG Industries, Visa Inc, Intel Corp, United States Steel, Boot Barn Holdings and Baker Hughes Co.
- Currently, the DJIA trades up up 232.63 points (0.52%) at 44944.77, S&P E-Minis up 30.75 points (0.51%) at 6098.25,
Nasdaq up 39.9 points (0.2%) at 19672.44. - Utility and Real Estate sectors continued to lead gainers in late trade, independent power and electricity providers buoyed the Utility sector: Vistra rebounding +13.25% after suffering heavy losses earlier in the week (-28% at one point), Constellation Energy +5.77%, NRG Energy +4.38%.
- Investment trusts, particularly office and residential supported the Real Estate sector: after reporting strong post-pandemic leasing numbers BXP Inc gained 7.02%, Camden Property Trust and Mid-America Apartment Comm both +2.70, Equity Residential +2.48%.
- As noted above, software and services shares weighed on the Information Technology sector: ServiceNow Inc -12.62%, Microsoft -6.13%, Salesforce Inc -2.65%. Helping soften the sell-off, IBM surged 12.17%, Roper +5.17% while Oracle gained 5.29%.
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