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US STOCKS: Late Equities Roundup: Broadline Retailers, IT Outperforming

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Still firmer in late Friday trade, stocks have trimmed gains ahead the weekend with sights on next week's presidential election. While the event risk is undeniable, there is practically no chance that the winner of the election will be known after polling stations close next Tuesday evening.
  • Stocks bounced off near four week lows this morning after lower than anticipated employment data reignited bets of more Fed rate cuts in the near term. Currently, the DJIA trades up 340.54 points (0.82%) at 42103.07, S&P E-Minis up 28.5 points (0.5%) at 5767, Nasdaq up 153.1 points (0.8%) at 18247.55.
  • Consumer Discretionary and Information Technology sectors continued to outperform in late trade, broadline retailers supporting the Discretionary sector: Lululemon +7.75%, Amazon +6.19% after topping earnings expectations late Thursday, Chipotle +4.38%. Chip makers bounced off midweek lows as they buoyed the IT sector: Intel +7.25% after topping estimates late Thursday, Dell +5.39%, First Solar +4.68%, Hewlett Packard +2.67%.
  • Utilities and Real Estate sectors continued to underperform in late trade, electricity and independent energy providers reversing midweek gains: despite topping earnings, AES -10.34% as revenues missed, Entergy -5.63%, NRG Energy -4.73%. Residential and office REITs weighed on the Real Estate sector: Essex Property -2.35%, UDR Inc -2.32%, Camden Property -2.19%.
  • Notable companies announcing early next week (aside from Berkshire Hathaway Saturday) include: Fidelity Ntnl, Marriott Int, Diamondback Energy, Vertex, AIG, Palantir, Marathon, Archer-Daniels Midland, Yum! Brands, Devon Energy, Lumen, Super Micro Computer, CVS, Owens Corning and McKesson.
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  • Still firmer in late Friday trade, stocks have trimmed gains ahead the weekend with sights on next week's presidential election. While the event risk is undeniable, there is practically no chance that the winner of the election will be known after polling stations close next Tuesday evening.
  • Stocks bounced off near four week lows this morning after lower than anticipated employment data reignited bets of more Fed rate cuts in the near term. Currently, the DJIA trades up 340.54 points (0.82%) at 42103.07, S&P E-Minis up 28.5 points (0.5%) at 5767, Nasdaq up 153.1 points (0.8%) at 18247.55.
  • Consumer Discretionary and Information Technology sectors continued to outperform in late trade, broadline retailers supporting the Discretionary sector: Lululemon +7.75%, Amazon +6.19% after topping earnings expectations late Thursday, Chipotle +4.38%. Chip makers bounced off midweek lows as they buoyed the IT sector: Intel +7.25% after topping estimates late Thursday, Dell +5.39%, First Solar +4.68%, Hewlett Packard +2.67%.
  • Utilities and Real Estate sectors continued to underperform in late trade, electricity and independent energy providers reversing midweek gains: despite topping earnings, AES -10.34% as revenues missed, Entergy -5.63%, NRG Energy -4.73%. Residential and office REITs weighed on the Real Estate sector: Essex Property -2.35%, UDR Inc -2.32%, Camden Property -2.19%.
  • Notable companies announcing early next week (aside from Berkshire Hathaway Saturday) include: Fidelity Ntnl, Marriott Int, Diamondback Energy, Vertex, AIG, Palantir, Marathon, Archer-Daniels Midland, Yum! Brands, Devon Energy, Lumen, Super Micro Computer, CVS, Owens Corning and McKesson.