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Late Equity Roundup: Paring Losses, Cheap Stocks, Utilities Leading

US STOCKS
  • Strength in Utility and Information Technology sector shares helped indexes pare losses in late Monday trade. Currently, DJIA is trading down 13.21 points (-0.03%) at 39075.82. S&P E-Minis up 7.75 points (0.15%) at 5154, Nasdaq up 2.2 points (0%) at 16278.24.
  • Leading Gainers: Independent power and multi-source energy provides buoyed Utility sector shares in the second half: Dominion Energy +3.55%, Constellation Energy +3.0%, AES Corp +2.91%. Continued AI demand for high end semiconductors supported IT: Nvidia +6.25%, Intel +5.65%. Advanced Micro Devices +2.84%.
  • Laggers: Communication Services and Consumer Discretionary sectors underperformed in late trade, interactive media and entertainment shares weighing on the former: Paramount Global -6.62%, Warner Brothers -6.17%, Charter Communications -4.8%. Meanwhile, automakers weighed on the Discretionary sector in late trade, particularly Tesla -7.74% after sales slump in China, while parts maker Aptiv -1.23%.
  • The earnings cycle has largely run it's course, but there are a few notable names to still announce: Target early Tuesday, Crowdstrike Holdings late Tuesday, Foot Locker Abercrombie & Fitch, Kroger and Burlington Stores Early Wednesday.
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