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Late Equity Roundup: Near Lows, Chemicals, Chip Stocks Lagging

US STOCKS
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  • Stocks drifted near session lows in late Friday trade, ongoing Middle East geopolitical risk concerns spurring several rounds of position squaring ahead of the weekend. Initially under pressure after banks earning's announcements from Wells Fargo and JPM underwhelmed this morning, Currently, DJIA is down 528.21 points (-1.37%) at 37936.27, S&P E-Minis down 83 points (-1.58%) at 5160.75, Nasdaq down 284.8 points (-1.7%) at 16159.11.
  • Laggers: Materials and Information Technology sectors reversed prior session gains, chemical stocks weighed on the former: FMC Corp -6.97%, Albemarle -5.22%, Corteva -3.95%. Chip stocks continued to weigh on the IT sector: Arista Networks -8.46%, ON Semiconductor -5.20%, Intel -4.53%, Advanced Micro Devices -4.26%.
  • Leading Gainers: Utility and Consumer Staples sectors outperformed in late trade, multi-energy providers buoyed the Utility sector: Consolidated Edison +0.23%, DTE Energy +0.08%, NiSource -0.22%, CMS Energy -0.25%. Meanwhile Consumer Staples underpinned by retail distribution names: Walmart +0.28%, Costco-0.38%, WBA -0.83%.
  • Quarterly earnings resume next week with Charles Schwab, Goldman Sachs and M&T Bank reporting before Monday's open.
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  • Stocks drifted near session lows in late Friday trade, ongoing Middle East geopolitical risk concerns spurring several rounds of position squaring ahead of the weekend. Initially under pressure after banks earning's announcements from Wells Fargo and JPM underwhelmed this morning, Currently, DJIA is down 528.21 points (-1.37%) at 37936.27, S&P E-Minis down 83 points (-1.58%) at 5160.75, Nasdaq down 284.8 points (-1.7%) at 16159.11.
  • Laggers: Materials and Information Technology sectors reversed prior session gains, chemical stocks weighed on the former: FMC Corp -6.97%, Albemarle -5.22%, Corteva -3.95%. Chip stocks continued to weigh on the IT sector: Arista Networks -8.46%, ON Semiconductor -5.20%, Intel -4.53%, Advanced Micro Devices -4.26%.
  • Leading Gainers: Utility and Consumer Staples sectors outperformed in late trade, multi-energy providers buoyed the Utility sector: Consolidated Edison +0.23%, DTE Energy +0.08%, NiSource -0.22%, CMS Energy -0.25%. Meanwhile Consumer Staples underpinned by retail distribution names: Walmart +0.28%, Costco-0.38%, WBA -0.83%.
  • Quarterly earnings resume next week with Charles Schwab, Goldman Sachs and M&T Bank reporting before Monday's open.