Late Equity Roundup -- Weaker, But Still Near 5W Highs

Stock indexes extended session lows after the FI close Wednesday after SPX eminis climbed to the highest levels since Feb 10 overnight (4514.00) and breach of round number resistance late Tue.

• Earlier bid stalled as focus turns from hawkish Fed speak to Geopol-risk ahead Pres Biden NATO address Thu. Indeed, de-risking accelerated late after National Security Advisor Sullivan said U.S. WILL UNVEIL NEW RUSSIA SANCTIONS: TARGET POLITICAL FIGURES, OLIGARCHS, ENTITIES, Bbg at Thu's summit.
• Currently, SPX emini -45.75 (-1.02%) at 4458.75 -- still well above key support of 4352.15, the 20-day EMA. Flipside: key resistance at 4514.75 (High Mar 22) followed by 4578.50 (High Feb 9).
• Dow trades -362.03 (-1.04%) at 34445.65, and Nasdaq -164.1 (-1.2%) at 13947.16.
• SPX leading/lagging sectors: Strong support for Energy sector (+2.46%) w/ crude holding gains: WTI +$5.70 at $114.97. Energy equipment +3.65%
  • Utilities sector (+0.68) with gas, electric and water sub-sectors outperforming.
  • Laggers: Health Care (-1.47%) dragged down by equipment mfgs (-1.85%), pharmaceuticals (-1.17%). Financials (-1.4%)
• Dow Industrials Leaders/Laggers: Tech shares strong, Apple (AAPL) gaining 2.51 at 171.33; Chevron (CVX) climbs +2.81 to 166.90 on higher crude.
  • Laggers: Home Depot (HD) extends sell off -12.94 at 316.79.