Late Equity Roundup: SPX Through 50-Day EMA Resistance

Stocks making late headway, SPX eminis through key resistance: ESM2 at 4462.0 +75.25, breach of 50-day EMA key resistance at 4446.83.

• Opens next key level of 4519.75/4588.75 (Apr 8/Apr 5 high) where a break would ease the bearish threat.
• Various drivers: early support appeared to be driven by better than expected earnings releases ahead the open from: JNJ, CFG, HAL, TFC, PLD, SI, LMT, SBNY (Hasbro and Fifth Third missing est). After the bell: Netflix and IBM.
• Desks also cite strong housing starts at 16Y high as not recessionary, weaker crude; no mask mandate helping airline shares.
• SPX leading/lagging sectors extending early gains: Consumer Discretionary (+2.94%) with durables and apparels outpacing autos, retailing and consumer services. Real Estate sector (+2.26%) outpacing Communication Services (+2.13%).
• Laggers: Energy sector (-0.73%) continues to underperform with oil/gas, consumable fuels underperforming with drop in crude (WTI -5.93 at 102.38)
• Meanwhile, Dow Industrials currently trades +527.49 (1.53%) at 34940.29, Nasdaq +298.4 (2.2%) at 13630.51.
• Dow Industrials Leaders/Laggers: Home Depot (HD) leads +6.42 at 306.63. Boeing (BA) +6.37 at 186.22 outpaces Goldman Sachs (GS) +6.11 at 335.99. Travelers Ins extends sell-off -9.58 at 175.64 despite beating earnings est, forward guidance in question.