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US STOCKS: Post-PPI Bid Evaporates Ahead Wednesday CPI, Earnings Kick-Off

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks retreat from this morning's post-PPI data highs, extending modestly lower ahead midday with Health Care and Communication Services sectors underperforming.
  • Stocks and Treasury futures enjoyed a brief knee-jerk rally after this morning's PPI inflation measures for December came out lower than expected. Risk retreated as further investigation into the data showed PCE components were on the soft side with the notable exception of airfares, which typically jump in December.
  • Currently, the DJIA trades down 89.09 points (-0.21%) at 42205.84, S&P E-Minis down 20.25 points (-0.34%) at 5853.5, Nasdaq down 92.7 points (-0.5%) at 18994.25.
  • Pharmaceuticals weighed on the Health Care sector in the first half: Eli Lilly -7.21% after phase 1 trials of it's weight loss drug were terminated, Charles River Labs -5.72%, Regeneron Pharmaceuticals -2.64%.
  • Interactive media and entertainment shares weighed on the Communication Services sector: Meta -2.60% amid reports of staff reductions of lowest 5% performers, Paramount Global -1.21%, Netflix -1.04%.
  • On the positive side, Utilities and Materials sectors outperformed in the first half. Independent power and electricity providers rebounded after Monday's selling: Vistra +4.91%, Constellation Energy +3.09%, NRG Energy +2.42%. Chemicals continued to support the Materials sector for the second day running: Celanese +5.11%, Eastman +2.09%, Air Products & Chemicals +1.65%.
  • Reminder, the next round of quarterly earnings kicks off this week with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 15-16.
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  • Stocks retreat from this morning's post-PPI data highs, extending modestly lower ahead midday with Health Care and Communication Services sectors underperforming.
  • Stocks and Treasury futures enjoyed a brief knee-jerk rally after this morning's PPI inflation measures for December came out lower than expected. Risk retreated as further investigation into the data showed PCE components were on the soft side with the notable exception of airfares, which typically jump in December.
  • Currently, the DJIA trades down 89.09 points (-0.21%) at 42205.84, S&P E-Minis down 20.25 points (-0.34%) at 5853.5, Nasdaq down 92.7 points (-0.5%) at 18994.25.
  • Pharmaceuticals weighed on the Health Care sector in the first half: Eli Lilly -7.21% after phase 1 trials of it's weight loss drug were terminated, Charles River Labs -5.72%, Regeneron Pharmaceuticals -2.64%.
  • Interactive media and entertainment shares weighed on the Communication Services sector: Meta -2.60% amid reports of staff reductions of lowest 5% performers, Paramount Global -1.21%, Netflix -1.04%.
  • On the positive side, Utilities and Materials sectors outperformed in the first half. Independent power and electricity providers rebounded after Monday's selling: Vistra +4.91%, Constellation Energy +3.09%, NRG Energy +2.42%. Chemicals continued to support the Materials sector for the second day running: Celanese +5.11%, Eastman +2.09%, Air Products & Chemicals +1.65%.
  • Reminder, the next round of quarterly earnings kicks off this week with Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, US Bancorp, M&T Bank and PNC all reporting between January 15-16.