Free Trial

Late Equity Roundup: Apple Sours

US STOCKS

Stocks saw gains trimmed in late trade, partially tied to Apple (6.95% of the S&P) reversing gains/trading lower on reports of IPhone production cuts. That said, Industrials, Utilities and Materials sectors continued to buoy indexes. Currently, SPX eminis trade +28 (0.76%) at 3716.75; DJIA +248.03 (0.82%) at 30432.3; Nasdaq +44 (0.4%) at 10719.19.

  • SPX leading/lagging sectors: Industrials (+1.69%) lead by capital goods sectors: with aerospace & defense gaining: Lockheed Martin +8.9% after better than expected Q3 earnings ($6.87 vs. $6.722 est). Utilities (+1.46%) and Materials (+1.26%) follow. Laggers: Information Technology (+0.10) weighed by declines in semiconductor makers; Communication Services (+0.13%) - Netflix (NFLX) trading -1.76% ahead their Q3 annc after the close ($2.123 est).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) trades strong +7.12 at 313.83 after earnings beat this morning ($8.25 vs. $7.746 est); Salesforce.com (CRM) +6.09 at 153.27. Laggers: United Health (UNH) -2.22 at 519.66; Amgen (AMGN) -0.93 at 252.00, Intel (INTC) -0.84 at 25.58.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.