July 01, 2024 18:43 GMT
Late Equities Roundup: Top End Narrow Range
US STOCKS
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- Stocks have recovered from modest early sell pressure Monday, drifting mildly higher late Monday, at/near narrow session highs. Currently, the DJIA is up up 23.96 points (0.06%) at 39145.56, S&P E-Minis up 6.75 points (0.12%) at 5529.25, Nasdaq up 113.7 points (0.6%) at 17849.72.
- Information technology and Consumer Discretionary sectors continued to outperform in late trade, hardware makers outperformed semiconductor makers: Apple +2.82% on positive guidance, NetApp +1.55%, Arista Networks +1.48%.
- Auto makers buoyed the Consumer Discretionary sector with Tesla surging 7.45% amid hopes of progress in EU-China tariff talks on electric vehicle imports. Meanwhile, Ford gained +2.51%, GM +1.4%.
- Materials and Real Estate sectors continued to underperform in late trade, construction materials weighed on the former: Vulcan Materials -2.13%, Martin Marietta Materials -2.18%. Estate management shares weighed on the latter: CBRE Group -2.84%, Simon Property -3.22%.
- Reminder, the latest equity earnings cycle kicks off in earnest Friday next week, banks headline: Wells Fargo, Bank of NY Mellon, JP Morgan and Citigroup.
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