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US STOCKS: Late Equities Roundup: Off Highs As Saturday Tariffs Confirmed

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks reversed early gains to mostly lower late Friday after President Trump officials confirmed 25% tariffs on Canada & Mexico, 10% on China will start Saturday, February 1. Stocks had reacted positively to earlier reports the tariffs could be put off until May 1, with SPX Eminis and Nasdaq climbing near all-time highs.
  • Currently, the DJIA trades down 251.41 points (-0.56%) at 44631.49, S&P E-Minis down 16 points (-0.26%) at 6083, Nasdaq up 3.5 points (0%) at 19685.95.
  • Energy and Materials sectors underperformed in the second half, oil and gas stocks weighed on the former: Chevron -4.52%, Hess Corp -4.46%, Occidental Petroleum -4.23% while APA Corp declined 3.5%. Metals and mining shares weighed on the Materials sector: PPG Industries -5.67%, Mosaic -2.76%, Steel Dynamics -2.38%.
  • On the positive side, Communication Services and Consumer Discretionary sectors outperformed, interactive media and entertainment stocks supporting Communication Services: Elecctronic Arts +3.51%, Charter Communications +2.81%, Alphabet +1.85%. Meanwhile, autos and parts retailers buoyed the Consumer Discretionary sector: Tesla +1.78%, Tractor Supply +0.46%, AutoZone +0.23%.
  • Another heavy earnings docket next 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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  • Stocks reversed early gains to mostly lower late Friday after President Trump officials confirmed 25% tariffs on Canada & Mexico, 10% on China will start Saturday, February 1. Stocks had reacted positively to earlier reports the tariffs could be put off until May 1, with SPX Eminis and Nasdaq climbing near all-time highs.
  • Currently, the DJIA trades down 251.41 points (-0.56%) at 44631.49, S&P E-Minis down 16 points (-0.26%) at 6083, Nasdaq up 3.5 points (0%) at 19685.95.
  • Energy and Materials sectors underperformed in the second half, oil and gas stocks weighed on the former: Chevron -4.52%, Hess Corp -4.46%, Occidental Petroleum -4.23% while APA Corp declined 3.5%. Metals and mining shares weighed on the Materials sector: PPG Industries -5.67%, Mosaic -2.76%, Steel Dynamics -2.38%.
  • On the positive side, Communication Services and Consumer Discretionary sectors outperformed, interactive media and entertainment stocks supporting Communication Services: Elecctronic Arts +3.51%, Charter Communications +2.81%, Alphabet +1.85%. Meanwhile, autos and parts retailers buoyed the Consumer Discretionary sector: Tesla +1.78%, Tractor Supply +0.46%, AutoZone +0.23%.
  • Another heavy earnings docket next 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.