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Late Equity Roundup: Inching Off Lows

US STOCKS
  • Stock indexes continue to inch off first half lows in late trade, Energy sector shares outperforming. DJIA shares are up 22.8 points (0.07%) at 34498, S&P E-Mini futures up 0.75 points (0.02%) at 4385.5, Nasdaq down 6.3 points (0%) at 13311.69.
  • Leading gainers: Energy sector shares outperformed for the third day running with crude gaining in the second half (WTI +.72 at 81.11). Oil and gas shares outpaced equipment and services shares in the first half: Devon Energy +1.65%, Marathon Oil +1.38, Exxon Mobil +1.28%.
  • Consumer Staples and Utility sectors followed, distribution/retail stores buoyed the former: Dollar General +1.6%, Walmart +1.36%, Kimberly-Clark +1.35%. Water and multi-energy utilities supported the latter: Ameren Corp +1.5%, Consolidated Edison +1.25%, Pinnacle West +1.2, American Water Works +0.60%.
  • Laggers: Communication Services, Consumer Discretionary and Financial sectors underperformed in the second half (IT shares gained rebounded in the second half). Interactive media weighed on Communication Services with Google -1.75%, Meta -1.55%, Charter Comm -1.0%. Meanwhile, auto maker Tesla weighed on Consumer Discretionary with Tesla -2.1% while parts maker/distributor Aptiv slipped -.14%.
  • Meanwhile, Banks and financial services shares underperformed insurance names in the second half: Citizens Financial -1.75%, Comerica -1.35%, Fidelity National -1.15%.
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