December 26, 2024 15:32 GMT
US STOCKS: Paring Early Losses
US STOCKS
- Major averages are holding modestly weaker in early Thursday trade, profit taking after early week gains in Information Technology and Consumer Discretionary sectors reported.
- Currently, the DJIA trades down 74.2 points (-0.17%) at 43224.62, S&P E-Minis down 12.75 points (-0.21%) at 6085.25, Nasdaq down 33.9 points (-0.2%) at 19998.16.
- After enjoying decent gains in the first half of the week, Semiconductor makers led laggers Thursday: Enphase -1.20%, First Solar -1.13%, Nvidia and Synopsis both -0.85%. The Consumer Discretionary sector weighed by cruise lines: Royal Caribbean -1.40%, Carnival -1.12%, Norwegian -1.06%.
- On the flipside, Health Care and Real Estate sectors outperformed in early trade: CVS +1.29%, Henry Shein +1.16%, Humana gained 0.97% while UnitedHealth Group +0.90%. Estate management shares, particularly industrial and office REITs outperformed: Prologis +1.04%, UDR Inc +0.37%, Ventas +0.27%.
- Looking ahead, the next round of quarterly earnings kicks off mid-January with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 13-16.
163 words