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Late Equity Roundup, Rout Deepens

US STOCKS

Stock indexes continued to extend lows in late trade, prospect of higher rates tied to EU energy price surge weighing on stocks (Consumer Discretionary, Communication Services and IT underperforming) and short FI markets Monday. Currently, SPX eminis trade -96 (-2.27%) at 4135.25; DJIA -680.97 (-2.02%) at 33024.2; Nasdaq -332.9 (-2.6%) at 12371.8.

  • Equity earnings cycle nearly complete, still some notable announcements next week: Nvidia (NVDA) late Wednesday $508 est, Dell late Thursday $1.636 est.
  • SPX leading/lagging sectors: Energy sector mildly weaker (-055%) buoyed by energy/technology companies Diamondback Energy (FANG) +0.41%, Marathon (MRO) +0.37%, Baker Hughes (BKR) +0.44%; followed by Consumer Staples (-1.22), Utilites (-1.47) and Health Care follow (-1.64%). Laggers: As noted, Consumer Discretionary (-2.89), Consumer Services (-2.84%) and Information Technology -2.88%
  • Dow Industrials Leaders/Laggers: Procter Gamble (PG) -$0.19 at 149.54, Verizon (VZ) -0.32 at 44.10, Dow -0.93 at 54.56. Laggers: Microsoft (MSFT) -8.42 at 277.69, Salesforce (CRM) -7.32 at 176.48, Home Depot (HD) -7.98 at 313.34.
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