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Late Equities Roundup: Oil & Gas, Auto Makers Underperforming

US STOCKS
  • Stocks remain steady to mixed late Friday, off midday lows with Consumer Staples and Information Technology share outperforming. Stocks had reversed gains after higher than expected UofM inflation expectations and weaker consumer sentiment tempered the late week risk appetites. Currently, the DJIA is up 66.18 points (0.17%) at 39454.74, S&P E-Minis up 0.75 points (0.01%) at 5240, Nasdaq down 22.6 points (-0.1%) at 16323.92.
  • Laggers: Energy and Consumer Discretionary sectors underperformed in late trade, oil and gas companies weighed on the former: EQT Corp -3.05%, Marathon Petroleum -2.18%, Valero -1.78%. Meanwhile, auto makers continued to weigh on the discretionary sector: Tesla -2.11%, Ford -1.20% while parts maker Aptiv declined 1.15%.
  • Leading Gainers: Consumer Staples and Information Technology sectors outperformed in late trade. Food and beverage companies buoyed Consumer Staples in the second half: Hershey +1.82%, Kraft Heinz +1.32%, Mondelez Int +1.28%. Semiconductor makers supported the IT sector with Micron +2.81%, Broadcom +2.20%, Applied Materials +1.75%. But cyber security provider Gen Digital soared 14.65% after better than expected earnings announced late Thursday.
  • Late cycle earnings releases expected next week include: Home Depot, CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.

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