SPX eminis gaining in late FI trade, upper half session range as markets get ready fora slew of new earnings after the close: Invitation Homes (INVH), Raymond James (RJF), Qualcomm (QCOM), Amgen (AMGN), Ford (F), Meta (FB), PayPal (PYPL) to name a few.
- Despite the bounce, fresh short-term lows confirm a resumption of the current downtrend and signal scope for a continuation of this theme. ESM2 trading +25.25 (0.61%) at 4196.25 well above key short term support of 4136.75 (Low Apr 26). Initial upside resistance: 4303.50/4355.50 High Apr 26 / Low Apr 18.
- SPX leading/lagging sectors: Materials (+2.43%) outpaces Information Technology (+2.34%) lead by software and services: Visa (V) +7.39%, MSFT +6.49%.
- Laggers: Communication Services (-2.19%) weighed interactive media ands services, in particular Meta (FB) -4.86%, Alphabet (GOOG) -3.31%).
- Meanwhile, Dow Industrials currently trades +209.95 points (0.63%) at 33448.76, Nasdaq +55.3 points (0.4%) at 12547.21.
- Dow Industrials Leaders/Laggers: Salesforce Inc +6.38 at 176.46, United Health +5.39 at 519.17. Boeing extends losses on heavy volume (-14.13 at 152.91), Johnson & Johnson (-1.55 at 183.13).