January 25, 2023 20:04 GMT
Late Equity Roundup: Late Recovery, Banks, Autos and Airlines Gaining
US STOCKS
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Major indexes recover off midmorning lows, Utilities still lagging while Financials and Consumer Discretionary sectors making late gains. SPX eminis currently trades -2 (-0.05%) at 4030.5; DJIA +10.79 (0.03%) at 33744.21; Nasdaq -17.4 (-0.2%) at 11317.78.
- SPX leading/lagging sectors: Utilities underperforming (-1.62%) specifically electrical: NextEra Energy: NEE -8.21% despite reporting better than expected profit/rev's, though bottom line disappointed. Next up: Communication Services (-0.50%) and Industrials (-0.46%), interactive media & services weighing on the former (Google -2.95%, Meta -0.75%).
- Leaders: Financials sector (+0.60%) gained in the second half w/ insurance and banks outperforming diversified financials (USB +5.12%, Key +1.90%, WFC +1.51%. Consumer Discretionary (+0.30%) next up - lead by autos (TSLA +1.11%, GM +0.44%, F +0.35%).
- Dow Industrials Leaders/Laggers: Boeing (BA) reversed early losses (203.18 low) to 213.84 (+1.5), McDonalds (MCD) +1.27 at 270.84, and Disney (DIS) +1.29 at 107.29. Laggers: AMGN -3.54 at 256.16, Travelers (TRV) -2.85 at 190.40, Chevron (CVX) -2.09 at 178.74.
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