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Late Equities Roundup: Weaker On Month/Quarter End After Cycle Highs

US STOCKS
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  • Stocks are mildly weaker in late Friday trade, well off this morning's new or nearly new cycle highs heading into month/quarter-end positioning that can trigger wild moves in thin trade ahead of the weekend.
  • SPX Eminis were a couple points shy of the all time high of 5588.00 from June 20, Nasdaq marked a new all-time high of 18,029.26, while DJIA climbed to 39,436.89 -- still well off mid-May high of 40,003.59. Currently, the DJIA is down 125.74 points (-0.32%) at 39037.43, S&P E-Minis down 12 points (-0.22%) at 5533.75, Nasdaq down 29.9 points (-0.2%) at 17828.8.
  • Information technology and Financial sectors continued to outperform in late trade, semiconductor makers supporting the former: Qorvo +2.83%, Qualcomm +2.20%, Applied Materials +2.04%, Microchip Technology +1.91%.
  • Regional banks buoyed the Financial sector: Regions Financial +4.27%, Citizens Financial +3.64%, Key Bank +3.23%.
  • Meanwhile, Utilities and Consumer Discretionary sectors continued to underperform in late trade, independent power and electricity providers weighing on the former: AES -9.01%, NextEra Energy -4.69%, Constellation Energy -1.36%.
  • Athletic apparel makers weighed on Consumer Discretionary: namely Nike -20.11% after poor sales guidance and easing market share. Meanwhile Lululemon Athletica -3.29%.
  • Reminder, the week after next kicks off the latest equity earnings cycle.
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  • Stocks are mildly weaker in late Friday trade, well off this morning's new or nearly new cycle highs heading into month/quarter-end positioning that can trigger wild moves in thin trade ahead of the weekend.
  • SPX Eminis were a couple points shy of the all time high of 5588.00 from June 20, Nasdaq marked a new all-time high of 18,029.26, while DJIA climbed to 39,436.89 -- still well off mid-May high of 40,003.59. Currently, the DJIA is down 125.74 points (-0.32%) at 39037.43, S&P E-Minis down 12 points (-0.22%) at 5533.75, Nasdaq down 29.9 points (-0.2%) at 17828.8.
  • Information technology and Financial sectors continued to outperform in late trade, semiconductor makers supporting the former: Qorvo +2.83%, Qualcomm +2.20%, Applied Materials +2.04%, Microchip Technology +1.91%.
  • Regional banks buoyed the Financial sector: Regions Financial +4.27%, Citizens Financial +3.64%, Key Bank +3.23%.
  • Meanwhile, Utilities and Consumer Discretionary sectors continued to underperform in late trade, independent power and electricity providers weighing on the former: AES -9.01%, NextEra Energy -4.69%, Constellation Energy -1.36%.
  • Athletic apparel makers weighed on Consumer Discretionary: namely Nike -20.11% after poor sales guidance and easing market share. Meanwhile Lululemon Athletica -3.29%.
  • Reminder, the week after next kicks off the latest equity earnings cycle.