Late Equity Roundup: Looking for Reason to Rally

Stocks extending gains in late trade, apparently fixated on more dovish tones (favors 25bp hike in March .. maybe pause late summer) on otherwise balanced comments from Atlanta Fed Bostic an hour ago: “There is a case that could be made that we need to go higher" while "inflation is remaining stubborn at elevated levels, labor markets remain quite tight.

• Stocks favoring the former: SPX eminis currently trading +18.75 (0.47%) at 3975.25; DJIA +282.29 (0.86%) at 32943.05; Nasdaq +53.3 (0.5%) at 11432.39.
• SPX leading/lagging sectors: Utilities (+1.75%) take the lead, electric utility shares outperforming (NEE +3.23%, CEG +2.95%, ETR +2.51, LNT +2.38%), Information Technology, Communication Services and Consumer Staples all appr +1.0%, software/services shares helping IT (CRM +12.64%, ADBE +3.17%, ANSS +3.08%).
• Laggers: Financials (-0.95%) w/ banks weighing (SBNY -4.42%, ZION -4.06%, PNC -3.56%, Key -3.47%); Consumer Discretionary (-1.16%) weighed by automakers, in particular Tesla -6.0% after poor response to "Investor Day".
• Dow Industrials Leaders/Laggers: Salesforce (CRM) surges +21.00 to 188.35 after better than expected earnings and beating guidance late Wed; McDonalds (MCD) +5.39 at 268.11, MSFT +4.26 at 250.63. Laggers: JPM -1.82 at 140.73, Travelers (TRV) -1.15 at 182.90, Amgen -1.13 at 235.06.