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Late Equity Roundup: Extend Rally Ahead Fed Blackout

US STOCKS

Major indexes continued to extend gains late Friday, risk buoyed by dovish comments from Fed Gov Waller before the Fed enters policy blackout at midnight.
Communication Services and Information Technology sectors continued to outperform. SPX eminis currently trades +62.75 (1.6%) at 3978.5; DJIA +252.6 (0.76%) at 33296.64; Nasdaq +257.3 (2.4%) at 11109.47.

  • SPX leading/lagging sectors: Communication Services (+3.63%) underpinned by interactive media and entertainment names: Netflix (NFLX) +7.57% after reporting huge subscriber addition in 4th quarter +7.66 million vs. 4.57 million est. Other leaders: Match +5.83%, Google +5.11%, Dish +5.56%. Information Technology (+2.29%) saw semiconductor shares (NVDA +5.88%, QCOM +3.59%, MPWR +2.89%) edge past software and servicer names (FIS +4.25%, ADSK +4.69%, INTU +4.74%).
  • Laggers: Utilities (0.18%), Health Care (0.25%) and Consumer Staples (0.52%) sectors underperformed, pharmaceuticals and biotechs weighed on Health Care sector (LLY -1.94%, GILD -0.98%, JNJ -0.93%).
  • Dow Industrials Leaders/Laggers: Microsoft (MSFT) extended gains by +7.48 to 239.43 after annc plan to lay off 10,000 employees. Salesforce (CRM) +4.61 at 151.02, American Express (AXP) +4.42 at 151.27. Laggers: Goldman Sachs (GS) -9.01 at 341.74, JNJ -1.62 at 167.91, Merck (MRK) -0.58 at 109.32.
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