Late Equity Roundup: Extending Lows in Late NY Trade

After a firmer open, stocks extending lows in late NY trade (ESM2 -40.0 at 4076.0) as markets contemplated already high CPI estimated read for May CPI (+0.7% vs. 0.3% prior) in the aftermath of the ECB's hawkish hold policy annc this morning.

• Nascent carry-over support on rumors China would revive Alibaba's ANT IPO didn't last long, SPX traded lower after China denied they were working on restructuring the company.
  
• Support for stocks evaporated after the ECB said it would aim to raise its key interest rate for the first time since 2011 by 25 basis points in July, and said it could increase rates by a greater increment in September unless the inflation outlook moderates.
• SPX leading/lagging sectors: Softer but still outperforming, Consumer Staples (-0.10%) and Consumer Discretionary (-0.51%), the latter with autos sector firmer mostly due to Tesla trading +0.90% at 732.15. Energy recovered off earlier levels, sector -0.65% in late trade. Laggers: Financials (-1.32%) with carry-over weakness in Banks followed by Communication Services (-1.29%) and Materials (-1.20%).
• DJIA -226.02 (-0.69%) at 32684.27; Nasdaq -159.6 (-1.3%) at 11927.05.
• Dow Industrials Leaders/Laggers: Home Depot (HD) +5.77 at 303.30, United Health Care (UNH) +1.56 at 495.09, Salesforce.com (CRM) +0.94 at 190.13. Laggers: Goldman Sachs (GS) -6.22 at 308.46, Boeing (BA) -4.35 at 135.28 and Visa (V) -4.24 at 209.26.