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Late Equity Roundup: Midday Support Evaporating

US STOCKS

Consumer Discretionary and Staples sectors continue to outperform, while late session sell-programs taking wind out modest rally. Currently, SPX eminis trade +12.25 (0.29%) at 4310.5; DJIA +162.21 (0.48%) at 34075.94; Nasdaq underperforming -76.3 (-0.6%) at 13052.53.

  • Stocks ignored mixed data that weighed on Tsys earlier, held range even after positive earnings from Home Depot (HD) beat exp: $5.05 vs. $4.983 exp, and Walmart (WMT) beat: $1.77 vs. $1.626 exp.
  • Consumer Discretionary sector lead by specialty retail with Bed Bath and Beyond (BBBY) surged over 85% to late morning high of 28.60 after trade halt called. Incidentally, Bath and Body Works (BBWI) gaining 6.40% at the moment, Best Buy (BBY) +6.01%, Target (TGT) +5.38%. ahead additional retailer and high-tech earnings this wk: Target (TGT) early Wed: $0.725 est; Lowe's Group (LOW): $4.611 est; Tech: Cisco (CSCO): $0.816 est; Applied Materials (AMAT) $1.77 est early Thu.
  • SPX leading/lagging sectors: As noted, Consumer Staples and Discretionary averaging +1.20%, Financials (+0.64%), Materials (+0.60%). Laggers: Information Technology (-0.56%), Energy (-0.43%) and Real Estate (-0.29%).
  • Dow Industrials Leaders/Laggers: Home Depot (HD) surge on strong earnings: +15.67 at 330.28, Walmart (WMT) +7.99 at 140.59, Boeing (BA) +2.62 at 173.09. Laggers: Salesforce (CRM) -0.70 at 190.36, Goldman Sachs (GS) -0.39 at 355.46, 3M (MMM) -0.34 at 151.09.
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