Free Trial

Late Equities Roundup: SPX Eminis Continue to Extend Contract Highs

US STOCKS
  • SPX Eminis continued to extend contract highs late Friday, Nasdaq not far behind in making new highs as well, outperforming Dow components as they climbed off weaker levels. Currently, the DJIA down 10.66 points (-0.03%) at 38713.52, S&P E-Minis up 29 points (0.58%) at 5047 vs. new contract high of 5047.5, Nasdaq up 207.8 points (1.3%) at 16000.79 vs. 16057.44 high on November 19, 2021.
  • Leading gainers: Information Technology and Consumer Discretionary sectors led gainers in the second half, semiconductor stocks supporting the former: Applied Materials +6.32%, First Solar +6.17%, Enphase +5.8% while Nvidia gained +3.21% after announcing investment in new chip unit for cloud firms. Broadline retailers and automakers buoyed the Consumer Discretionary sector: Etsy +5.21%, Amazon +2.8%, CarMax +1.68%, Tesla +1.82%.
  • Laggers: Energy and Consumer Staples continued to underperform in late trade, oil and gas shares weighed on the former: Conoco-Phillips -2.27%, Hess Corp -2.03%, Exon Mobil -1.85%. Food and beverage shares weighed on the Consumer Staples sector: Kellanova and Campbell Soup were both -3.15%, Hershey and Tyson Foods both -3.05%.
  • Looking ahead: corporate earnings expected next Monday (after the close): Catalent, Arista Networks, Avis Budget Group, Cadence Design, Waste Management, Goodyear Tire.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.