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Late Equity Roundup: Narrow Range, Midday Sellers Abate

US STOCKS
  • Stocks remain mildly mixed in late session trade, earlier program selling/profit taking ahead Friday's headline employment data has ebbed. At the moment, DJIA is up 19.25 points (0.05%) at 36145.09, S&P E-Mini futures down 4.5 points (-0.1%) at 4570.75, Nasdaq down 9 points (-0.1%) at 14221.1.
  • Leading gainers: Utilities, Industrials and Consumer Discretionary sectors continue to outperform, water and multi-use shares supporting the former: NextEra +3.06%, Sempra +2.72%, Exelon +1.62%. Transportation stocks moved to buoy Industrials in the second half: Delta +4.63, United Airlines +4.48%, Southwest +4.05%. Meanwhile, durables outpaced auto-makers support in Consumer Discretionary sector: Lennar Corp +3.42%, DR Horton +2.73%, and Mohawk +2.40%.
  • Laggers: Energy, Information Technology and Financial sectors underperformed, energy and equipment stocks traded weaker for the second consecutive session: Haliburton -3.14%, Schlumberger -2.04%, Baker Hughes -2.42%. Semiconductor stocks slumped late -- weighing on IT: First Solar -5.57%, Enphase -2.89%, Nvidia -1.46%. Meanwhile, insurance companies weighed on Financials in the second half: Arch Capital -1.67%, Everest Grp -1.59%, Progressive -1.22%.
  • Despite the latest dip, a bullish theme in S&P e-minis remains intact with the contract is trading closer to its recent highs and so far, corrections have been shallow. Moving average studies are in a bull-mode position and this highlights positive market sentiment. A resumption of gains would signal scope for a climb towards 4690.75, the Aug 2 high. Initial support lies at 4568.75 intraday low, followed by 4442.65 50-day EMA.
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