Free Trial

Late Equity Roundup: Comm Services, Consumer Discretionary Led Rally

US STOCKS

Stocks continue to extend gains in late trade, S&P Emini's nearing January 2 highs,

S&P E-Mini futures are currently up 28 points (0.58%) at 4820.5, Nasdaq up 117.4 points (0.8%) at 14974.78. DJIA is up 156.61 points (0.42%) at 37681.28.
Leading gainers: Communication Services and Consumer Discretionary sectors continue to outperform: Interactive media/entertainment shares buoyed Communication Services for the second day running: Meta +4.13%, Google +1.27%, Fox Corp +0.92%. Broadline retailers buoyed the Consumer Discretionary sector: Home Depo +2.48% after Wedbush upgrade based on home improvement spending expectations, while Amazon gained +1.97%, Lowe's +1.18%.

Laggers: Energy and Materials sector stocks underperformed for the third day running, energy and equipment servicer shares weighing on the former: Baker Hughes -1.61%, Haliburton -1.51%, Schlumberger -0.78%. Metals/mining shares weighed on the Materials sector: Newmont -1.19%, Freeport-McMoRan -0.77%.
Reminder, banks lead the next quarterly earnings cycle that starts next week Friday with BlackRock, Bank of America, Wells Fargo, JPMorgan, Citigroup and Bank of NY Mellon.

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.