Late Equity Roundup: Near Highs Ahead Next Round of Earnings

Stocks trading near modest session highs after the FI close, SPX emini futures ESM2 currently +18.25 points (0.44%) at 4168.75 vs. 4129.5 low.

• Downtrend remains despite the carry-over bounce off Mon's lows, fresh lows have reinforced underlying bearish conditions and yesterday’s move lower resulted in a probe of key support at 4094.25, the Feb 25 low. Next key support would be 4056.00 (Mon's low) followed by 4029.25 High May 13 2021. On the upside: firm short-term resistance is at 4303.5.
• Earning after the bell: Prudential Fncl (PRU), AIG, Air BNB (ABNB), Starbucks (SBUX), Advanced Micro Devices (AMD) to name a few.
• SPX leading/lagging sectors: Energy extends gains (+3.03%) as O&G shares outperform energy equipment and servicers. Next up, Financials (+1.68%) with banks outpacing insurance and diversified shares, Materials (+1.36%).
• Laggers: Consumer Staples (-0.34%) weighed down by Estee Lauder (EL) -4.92% and Procter Gamble (PG) -1.53%; Consumer Discretionary (-0.25%) as hotels weigh on consumer services; autos outperforming (GM +4.42%, Borg Warner +2.79%).
• Meanwhile, Dow Industrials currently trades +70.68 points (0.21%) at 33132.07, Nasdaq +16.9 points (0.1%) at 12553.29.
• Dow Industrials Leaders/Laggers: Financials/insurers leading w/ Boeing (BA) (+5.74 at 154.35) overtakes Goldman Sachs (GS) +5.03 at 315.45 and JPM +3.31 at 123.36. Laggers holding: Nike (NKE) -3.02 at 123.06, Visa (V) -2.37 at 209.16.