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Late Equity Roundup: Off Highs as Crude Pares Gains

US STOCKS
SPX eminis coming off late session highs after the FI close. Off midmorning lows, stocks appear to be partially weighed down by a reversal in crude prices.
  • West Texas crude had traded as high as 119.82 in early trade, fell to session low of 114.35 after WSJ reported some OPEC members are exploring the idea of suspending Russia's participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow's ability to pump more, OPEC delegates said.
  • After trading above the 50-day EMA of 4190.56 overnight (4202.25 high), SPX Jun futures bounced off lows ahead midday to 4166.75 second half high before falling back around 4144.0 (-12.5) after the FI close.
  • SPX leading/lagging sectors:Consumer Discretionary seeing continued support (+1.23%) w/ component mfgs outpacing autos followed by communication Services (+1.05%).
  • Laggers: Energy sector had lead gainers w/O&G outperforming energy equipment and servicers -- reversed w/crude (-1.45%). Materials and Health Care both appr -1.47%) as biotech and pharmaceuticals underperform.
  • DJIA -133.35 (-0.41%) at 33079.85; Nasdaq -7.0 (0.1%) at 12126.27.
  • Dow Industrials Leaders/Laggers: Nike (NKE) extends gains +3.19 at 119.18, Walt Disney (DIS) +1.06 at 110.38, McDonalds (MCD) +0.93 at 252.80. Laggers: United Health Care (UNH) -8.83 at 498.28, Home Depot (HD) -4.45 at 304.01.
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