January 03, 2025 19:46 GMT
US STOCKS: Late Equities Roundup: New High for Early 2025
US STOCKS
- Stocks continue to extend highs Friday -- surpassing yesterday's early highs before stocks retreated to December 20 levels (early November lows). Currently, the DJIA trades up 366.16 points (0.86%) at 42756.6, S&P E-Minis up 78.5 points (1.33%) at 5994.75, Nasdaq up 353.3 points (1.8%) at 19632.73.
- Consumer Discretionary and Information Technology sectors continued to lead gainers in the second half, autos and home builders supporting the former: after falling over 6% Thursday Tesla surged 7.1% while Ford gained 2.54%; builders saw Tapestry gained 1.97% while PulteGroup gained 2.00%.
- Semiconductor and hardware maker shares buoyed the IT sector: Super Micro Computer +7.85%, Palantir +5.83%, Jabil +5.41% and Nvidia +4.22%.
- On the flipside, Materials and Consumer Staples sectors underperformed in late trade, metals and mining shares weighing on the former: Celanese -1.87%, Smurfit WestRock -0.97%, Corteva -0.91%. Meanwhile, household and personal products weighed on the Consumer Staples sector: Estee Lauder -2.14%, Kimberly-Clark -0.44%, Kenvue -0.35%.
- Looking ahead, the next round of quarterly earnings kicks off mid-January with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 13-16.
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