Late Equity Roundup: Comm Services, Consumer Discretionary Led Rally

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.