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US STOCKS: Early Equities Roundup: Revering Early Gains as Geopol Tension Remain

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks reversed early Wednesday gains, reacting negatively to headlines that Ukraine has fired up to 12 Anglo-French Storm Shadow long-range missiles into Russia. This after markets had reacted positively to wires reporting the Kremlin was open to discussing a cease fire with Ukraine.
  • Currently, the DJIA trades down 118.78 points (-0.27%) at 43153.1, S&P E-Minis down 41 points (-0.69%) at 5897.25, Nasdaq down 191.3 points (-1%) at 18796.26.
  • Consumer Discretionary and Staples sectors underperformed in early trade, auto makers weighing on the former with Tesla -1.75%, Ford -1.45%. The Consumer Staples sector was weighed down by distribution and retail shares, most notably Target -21.12% after misses both EPS and revenue figures, while guiding lower on its Q4 EPS. Meanwhile, Dollar Tree traded -4.15%, Dollar General traded down 3.49%.
  • Of note, the IT sector trades modestly weaker in the first half, semiconductor shares weighing, while markets eagerly await Nvidia's Q3 earnings after the close (around 1620ET). In the past five quarters, Nvidia sales have beaten consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.
  • On the flip-side, Health Care and Energy sectors outperformed in the first half, pharmaceuticals and insurance names rebounding after several days of trading lower on Trump's choice of RFK Jr to run the Dept of Health & Human Services. Eli Lilly +2.29%, Bio-Techne +1.78%, Humana +5.10%. Oil and gas shares buoyed the Energy sector: EQT Corp +3.52%, APA +2010, Devon Energy +1.93%.
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  • Stocks reversed early Wednesday gains, reacting negatively to headlines that Ukraine has fired up to 12 Anglo-French Storm Shadow long-range missiles into Russia. This after markets had reacted positively to wires reporting the Kremlin was open to discussing a cease fire with Ukraine.
  • Currently, the DJIA trades down 118.78 points (-0.27%) at 43153.1, S&P E-Minis down 41 points (-0.69%) at 5897.25, Nasdaq down 191.3 points (-1%) at 18796.26.
  • Consumer Discretionary and Staples sectors underperformed in early trade, auto makers weighing on the former with Tesla -1.75%, Ford -1.45%. The Consumer Staples sector was weighed down by distribution and retail shares, most notably Target -21.12% after misses both EPS and revenue figures, while guiding lower on its Q4 EPS. Meanwhile, Dollar Tree traded -4.15%, Dollar General traded down 3.49%.
  • Of note, the IT sector trades modestly weaker in the first half, semiconductor shares weighing, while markets eagerly await Nvidia's Q3 earnings after the close (around 1620ET). In the past five quarters, Nvidia sales have beaten consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.
  • On the flip-side, Health Care and Energy sectors outperformed in the first half, pharmaceuticals and insurance names rebounding after several days of trading lower on Trump's choice of RFK Jr to run the Dept of Health & Human Services. Eli Lilly +2.29%, Bio-Techne +1.78%, Humana +5.10%. Oil and gas shares buoyed the Energy sector: EQT Corp +3.52%, APA +2010, Devon Energy +1.93%.