Stocks held mixed levels after the FI close, SPX paring gains back near steady while Dow components continued to outperform Friday. Focus on latest earnings cycle that kicks off next week with financials make up the bulk of releases. JP Morgan and BlackRock are due to set the tone on Wednesday, before Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo follow
- S&P eminis currently trades +1.25 (0.03%) at 4497.75 vs. 4469.50 session low -- above key support of 4455.32 50-day EMA. On the flipside, a resumption of gains and an ability to remain above the 50-day EMA would be seen as a bullish development -- key resistance at 4588.75 High Apr 5.
- Meanwhile, Dow Industrials currently trade +213.79 (0.62%) at 34798.7, Nasdaq -128.5 (-0.9%) at 13771.29.
- SPX leading/lagging sectors: Energy sector continued to outperform (+2.79%) with energy equipment servicers outpacing oil & gas consumables. Financials next up (+1.11%) as banks and diversified financial names outpacing insurers.
- Laggers: Information Technology sector extended losses (-1.16%) as semiconductors continued to lag on chip scarcity, software outpacing hardware. Consumer Discretionary next up (-0.54%) weighed down by autos.
- Dow Industrials Leaders/Laggers: United Health (UNH) took the lead climbing +10.61 to 547.56, outpacing the rebound in Home Depot +9.02 to 311.72. Tech shares weaker: MSFT -3.11 at 298.19, HON -2.54 at 190.16, AAPL -1.76 at 170.44.