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Late Equity Roundup: Broad Based Rally, Indexes Near Highs

US STOCKS

Major indexes look to finish higher Thursday as market sentiment improved. Latest upswing tied to Covid testing: has not revealed new variants while "European health officials called screenings and restrictions on travelers from China unjustified" Bbg.

  • SPX eminis currently trade +70 (1.84%) at 3877.5; DJIA +382.05 (1.16%) at 33255.9; Nasdaq +269.8 (2.6%) at 10483.49.
  • SPX leading/lagging sectors: Communication Services and Information Technology both up appr +2.85%, Consumer Discretionary (+2.48%) , latter as auto makers surged w/ Tesla +6.35% after drawing heavy selling this week - while Morgan Stanley analysts call current prices a good entry level. Laggers: Consumer Staples (+0.60%) Utilities (+0.92%), Financials (+1.30%) with diversified financials outperforming larger banks (JPM +0.20%, USB +0.23%, WFC +0.29%).
  • Dow Industrials Leaders/Laggers: Microsoft (MSFT) +6.58 at 241.11, Home Depot (HD) +5.57 at 321.30, Apple (AAPL) +4.03 at 130.07. Laggers: WBA -0.01 at 37.57, Boeing (BA) -0.02 at 188.36, Merck (MRK) +0.04 at 111.12.

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