April 28, 2022 19:26 GMT
SPX eminis looking strong after the FI close, extending highs w/ ESM2 +122.25 (2.92%) at 4302.25 -- just below initial key resistance of 4303.50/4355.50 High Apr 26 / Low Apr 18, followed by 4509.0 Apr 21 high.
- Several large program buys noted on the move, while month end extensions could be additional factor as Citi's model sees a rotation out of bond markets and into equities.
- Salient earnings after the close: Apple (AAPL), Western Digital (WDC), Intel (INTC), Amazon (AMZN).
- SPX leading/lagging sectors: Information Technology (+4.04%) with bounce in tech/hardware and semiconductor shares edges past Communication Services late (+4.27) lead by 17.6% surge in Meta (FB) while Google, Netflix and Twitter all trade stronger as well.
- Laggers: Utilities (+1.07%), Consumer Staples (+1.42%) and Industrials (+1.46%), latter weighed down by Stanley Black & Decker (beating estimate but has weak outlook) and Caterpillar (CAT) also beat estimate -- but demand shock (as in lack of) from China spurred sales.
- Meanwhile, Dow Industrials currently trades +747.46 points (2.24%) at 34048, Nasdaq +451.8 points (3.6%) at 12940.25.
- Dow Industrials Leaders/Laggers: Salesforce (+12.13), Home Depot (+12.08) and United Health (+12.2). Amgen (AMGN) lead laggers -10.77 at 238.02