June 18, 2024 19:06 GMT
Late Equities Roundup: O&G, Chip Stocks Help Eminis Mark New Highs
US STOCKS
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- Stocks continue to maintain narrow session ranges in late Tuesday trade, off highs after the S&P Eminis marked yet again a new cycle high of 5562.25. Currently, the S&P E-Minis are up 9 points (0.16%) at 5555.5, Nasdaq up 4 points (0%) at 17860.9, the DJIA up 15.94 points (0.04%) at 38794.18.
- Leading gainers: Energy and Information Technology sectors outperformed in the second half, oil and gas servicer shares buoyed the former as crude continued to rebound (WTI +1.02 at 81.35): Schlumberger +1.97%, Occidental Petroleum +1.76%, Targa Resources and ONEOK Inc both +1.55%.
- Semiconductor makers helped the IT sector gain in the second half as AI demand gains momentum: Teradyne +4.35%, Micron +3.75%, Nvidia +3.61%.
- Laggers: Communication Services and Consumer Discretionary sectors continued to underperform in late trade, interactive media & entertainment shares weighed on the former: Charter Communications -1.93%, Paramount -1.88%, Meta -1.77%, Google -1.55%.
- Meanwhile household durables weighed on the Consumer Discretionary sector: Lennar Corp -4.68% after home orders outlook missed analyst expectations, DR Horton -2.79%, Pulte Group -2.69%.
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