Late Equity Roundup:

Rocky ride for weaker stocks -- major indexes had bounced off midmorning/post-data lows to near opening levels, are moving lower again.

• SPX emini futures currently -63.5 (-1.6%) at 3908, Dow Industrials -232.94 (-0.73%) at 31641.26, Nasdaq -327 (-2.8%) at 11206.09.
• Technicals, SPX still well above key resistance of 3807.50 (Low May 20 and bear trigger). The reversal lower, and Friday’s fresh trend low, signals a resumption of the downtrend and opens 3801.97 next, 38.2% of the Mar ‘20 - Jan ‘22 bull leg (cont)
• Best Buy (BBY) missed earning's exp, guides lower, yet shares trade higher! Some desks cite retailer's same-store metrics not being as bad as feared and margins close to expectations for the rally. That said, Retailers contributing to weak Consumer Discretionary Sector. More earnings after the close: Toll Bros (TOL), Intuit (INTU) and Nordstrom (JWN).
• SPX leading/lagging sectors: Utilities (+0.65%) with gas and electric outperforming water utilities. Consumer Staples follow (+0.46%) with food, beverage and tobacco gaining. Laggers: Communication Services (-4.95%) with media/entertainment weaker: Meta (FB) -9.01% at 178.60, Google -6.73 at 150.21.
• Dow Industrials Leaders/Laggers: McDonalds +5.56 at 246.59, Walmart +0.90 at 123.50. Laggers: Goldman Sachs (GS) -6.50 at 310.11, Visa (V) -5.95 at 201.61 while Boeing (BA) trades -6.02 at 118.05.