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Late Equity Roundup, Energy Pares Crude Related Support

US STOCKS
  • Stocks remain mixed in late, Energy and Information technology sectors firmer but off first half highs. Currently, S&P E-Mini futures are down 8.5 points (-0.19%) at 4512.5, DJIA down 108.86 points (-0.31%) at 34727.01, Nasdaq up 18.2 points (0.1%) at 14048.98.
  • Energy sector shares continued to outperform after crude prices surged in the first half following Bbg headline: "SAUDI TO EXTEND CUT OF 1 MLN B/D FOR 3 MONTHS UNTIL DEC." Leaders included Occidental Petroleum +2.85%, EOG Resources +2.1%, Halliburton +2.35% with West Texas crude +1.06 at 86.61 vs. 87.99 high.
  • Meanwhile, software and services subsector continued to buoy IT stocks in the second half, outperforming microchip and hardware makers. Leaders included Oracle +2.45%, AMD +1.85%, Intel +1.55%.
  • Laggers: Utilities, Industrials and Materials sectors underperformed, gas and independent energy names weaker: ATO -2.65%, Dominion Energy -2.38%, AES Corp -2.63%. Industrials were weighed by transportation and airline shares: Old Dominion -2.95%, Alaska Air -2.95%, American Airlines and United both -2.50%, UAL off lows after a country-wide ground-stop was canceled after a computer glitch was rectified. Construction materials names traded weaker: Eastman Chemicals -4.75%, Martin Marietta Materials -3.2%, PPG -3.45%.
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