Late Equity Roundup: Late Session Highs

Equity indexes trading firmer, near late session highs after the FI session close. Early Geopolitical risk tempered risk appetite somewhat in the first half. Focus turned back to start of latest earnings cycle.

• Financials: JP Morgan missed (2.63 vs. 2.72), BlackRock beat (9.52 vs. 8.79). Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo tomorrow. Meanwhile Delta surged on improved guidance for travel demand despite increased operating costs.
• SPX eminis (ESM2) currently +55.5 (1.26%) at 4449.25 with eye on initial firm resistance at 4519.75 (Apr 8 high) -- a break would ease the bearish threat.
• SPX leading/lagging sectors: Consumer Discretionary sector surged in second half (+2.62%) with autos, consumer services, retailing outperforming.
• Laggers: Utilities (-0.24%) with water services surprisingly weak. Financials sector lagging (-0.11%), banks underperforming as earnings cycle kicks off (JPM -3.2% after 1Q miss).
• Meanwhile, Dow Industrials currently trade +370.49 (1.08%) at 34594.62, Nasdaq +303.7 (2.3%) at 13675.92.
• Dow Industrials Leaders/Laggers: Boeing (BA) extends lead (+6.31 at 182.59) followed by Microsoft (MSFT) +5.94 at 288.00. JPM remains weak -4.49 at 127.04, GS -2.66 at 317.22, Travelers Ins -1.67 at 183.27.