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US STOCKS: Extending Late Session Lows, Dow Underperforming

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks are extending late session lows at the moment, the Dow underperforming as Utility and Consumer Discretionary sectors continue to weigh. Currently, the DJIA is down 488.05 points (-1.15%) at 41865.32, S&P E-Minis down 59.25 points (-1.02%) at 5741.5, Nasdaq down 209.7 points (-1.2%) at 17929.35.
  • There were no obvious headline drivers for the extension, likely program related as futures bounced slightly in late trade, focus on this week's CPI/PPI inflation measure, the September FOMC minutes and the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing Friday. 
  • Utilities and Consumer Discretionary sector shares continue to underperform in late trade, water and independent power providers weighing on the Energy sector early on: Vistra -6.54%, American Water Works -4.22%, NextEra Energy -3.53%. The Discretionary sector weighed by a mix of sporting goods, electronics and food related companies: Deckers Outdoor -5.76%, Garmin -4.53%, Ross Stores -4.12% and Dominos Pizza -4.01%.
  • Energy and Information Technology sector shares continued to lead gainers in late trade, oil & gas stocks supporting the Energy sector as crude prices continued to surge (WTI +2.84 at 77.21) as Mideast tensions remain unresolved. Diamondback Energy +2.72%, EOG +1.21%, Valero +0.87%. Leading late session gainers in the IT sector: Super Micro Computers surged 15.55% on strong GPU sales, Nvidia gained 3.84%, while Fair Isaac Corp gained 2.10%.
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  • Stocks are extending late session lows at the moment, the Dow underperforming as Utility and Consumer Discretionary sectors continue to weigh. Currently, the DJIA is down 488.05 points (-1.15%) at 41865.32, S&P E-Minis down 59.25 points (-1.02%) at 5741.5, Nasdaq down 209.7 points (-1.2%) at 17929.35.
  • There were no obvious headline drivers for the extension, likely program related as futures bounced slightly in late trade, focus on this week's CPI/PPI inflation measure, the September FOMC minutes and the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing Friday. 
  • Utilities and Consumer Discretionary sector shares continue to underperform in late trade, water and independent power providers weighing on the Energy sector early on: Vistra -6.54%, American Water Works -4.22%, NextEra Energy -3.53%. The Discretionary sector weighed by a mix of sporting goods, electronics and food related companies: Deckers Outdoor -5.76%, Garmin -4.53%, Ross Stores -4.12% and Dominos Pizza -4.01%.
  • Energy and Information Technology sector shares continued to lead gainers in late trade, oil & gas stocks supporting the Energy sector as crude prices continued to surge (WTI +2.84 at 77.21) as Mideast tensions remain unresolved. Diamondback Energy +2.72%, EOG +1.21%, Valero +0.87%. Leading late session gainers in the IT sector: Super Micro Computers surged 15.55% on strong GPU sales, Nvidia gained 3.84%, while Fair Isaac Corp gained 2.10%.