Late Equity Roundup: Consumer Discretionary, IT Rebound

Stocks mixed after FI close, well off midday lows with Nasdaq shares outperforming. Tsys and stocks both extended lows by midday as hawkish Fed speak from Dallas Fed Logan on danger of not hike rates enough to combat inflation tempered risk appetite. Stocks currently near middle session range, SPX eminis +4.25 (0.1%) at 4151.25; DJIA -95.52 (-0.28%) at 34150.62; Nasdaq +68.2 (0.6%) at 11959.85.

• SPX leading/lagging sectors: Real Estate (-0.87%), Consumer Staples (-0.59%) and Financial (-0.40%) sectors underperformed. Specialized and Industrial REITs weighed on Real Estate (WY -3.99%, EQIX -1.62%, PEAK -1.59%) while insurance names weighed on Financials (MMC -3.62%, AJG -2.71%, MTW -2.05%, AFL -2.01%).
• Leaders: Consumer Discretionary (+0.77%) and Information Technology (+0.54%) and Materials all rebounded from earlier weaker levels. Autos and parts makers lead consumables (APTV +7.72%, Tesla 5.92%) while chip makers underpinned IT (NVDA +4.96%, MPWR +3.43%, ON +3.19%. AMD +3.15%).
• Dow Industrials Leaders/Laggers: Boeing (BA) extended gains +3.49 at 219.14, Chevron (CVX) +2.18 at 173.19, Microsoft (MSFT) +1.70 at 273.02. Laggers: Home Depot (HD) -5.25 at 318.28, Caterpillar (CAT) -3.21 at 244.94, Travelers (TRV -3.01 at 184.59).
• Earnings after the close: Devon Energy (DVN, $1.76 est), GoDaddy (GDDY $0.67 est), Akamai Technology (AKAM $1.27 est), Airbnb (ABNB $0.31 est), Livent (LTHM $0.37 est), Comstock Resources (CRK $0.75 est), Generac (GNRC $1.62 est).