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Late Equity Roundup, Late Rebound As Metals Surge

US STOCKS

Stocks bouncing off midday lows, earlier dovish Fed speak gaining traction again as short end rates rebounded, Dec 2022: cumulative hikes slips 57.3 to 4.40% as Terminal Funds rate holds at 5.155% in June'23.

  • Materials and Financials sectors outperforming: SPX eminis currently trading +32 (0.86%) at 3758.25; DJIA +230.73 (0.72%) at 32221.63; Nasdaq + 64.1 (0.6%) at 10402.25.
  • SPX leading/lagging sectors: Materials sector continued to gain (+3.11%) -- lead by metals and mining shares as Gold (+3.16%), Silver (+7.54%) and Copper (+7.82%) surge, Freeport McMoran (FCX) +11.06%, Newmont (NEM) +8.04%. Financials a distant second (+1.33%) with banks leading (FifthThird +3.62%, USB +2.77%, SBNY +2.62%). Laggers: HealthCare (-0.14%), Utilities (-0.01%) and Consumer Discretionary (+0.15%).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +7.25 at 356.12, Caterpillar (CAT) +7.23 at 226.49, NIKE (NKE) +4.93 at 95.33. Laggers: United Health (-12.51 at 531.10), Salesforce.Com (CRM) -7.42 at 138.91, Apple (AAPL) -2.52 at 136.36.

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