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US STOCKS: Late Equities Roundup: Chip Stocks and Pharmaceutical Continue to Lag

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks continue to extend session lows in late Friday trade, indexes back at last week Wednesday levels after this morning's surge in Empire Mfg and firmer October Retail Sales data tempered market expectations of a Fed cut in December. Currently, the DJIA trades down 345.99 points (-0.79%) at 43403.81, S&P E-Minis down 96.5 points (-1.61%) at 5881.5, Nasdaq down 492.4 points (-2.6%) at 18615.27.
  • Information Technology, Health Care and Communication Services sectors continued to underperform late trade, semiconductors weighing on the IT: Applied Materials -9.07%, Adobe -5.19%, Lam Research -5.75%. 
  • Pharmaceuticals weighed on the Health Care sector, analysts citing President Trump's choice of RF Kennedy Jr to head the Dept of Health & Human Services: Moderna -7.24%, Bio-Techne Corp -5.95%, IQVIA -5.1% while Amgen trades 5.01% lower.
  • Interactive media and entertainment share weighjed on the Communication Services sector in the second half: Omnicom Group -7.8%, Warner Bros -7.35%, Interpublic Group -5.51%.
  • On the flipside, Utilities and Financial sectors outperformed late Friday, shares of multi-energy providers supporting the Utility sector: American Electric +2.37%, Alliant Energy Corp +2.17%, Dominion Energy +1.99%. Meanwhile, banks and financial services continued to support the Financials sector: WR Berkley +1.46%, Aflac +1.27%, JP Morgan Chase +1.26%.
  • Big names still to report earning next week include: Lowe's, Walmart, Target, Williams-Sonoma, TJX, Nvidia, Palo Alto Networks, Intuit, Copart and the Gap.
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  • Stocks continue to extend session lows in late Friday trade, indexes back at last week Wednesday levels after this morning's surge in Empire Mfg and firmer October Retail Sales data tempered market expectations of a Fed cut in December. Currently, the DJIA trades down 345.99 points (-0.79%) at 43403.81, S&P E-Minis down 96.5 points (-1.61%) at 5881.5, Nasdaq down 492.4 points (-2.6%) at 18615.27.
  • Information Technology, Health Care and Communication Services sectors continued to underperform late trade, semiconductors weighing on the IT: Applied Materials -9.07%, Adobe -5.19%, Lam Research -5.75%. 
  • Pharmaceuticals weighed on the Health Care sector, analysts citing President Trump's choice of RF Kennedy Jr to head the Dept of Health & Human Services: Moderna -7.24%, Bio-Techne Corp -5.95%, IQVIA -5.1% while Amgen trades 5.01% lower.
  • Interactive media and entertainment share weighjed on the Communication Services sector in the second half: Omnicom Group -7.8%, Warner Bros -7.35%, Interpublic Group -5.51%.
  • On the flipside, Utilities and Financial sectors outperformed late Friday, shares of multi-energy providers supporting the Utility sector: American Electric +2.37%, Alliant Energy Corp +2.17%, Dominion Energy +1.99%. Meanwhile, banks and financial services continued to support the Financials sector: WR Berkley +1.46%, Aflac +1.27%, JP Morgan Chase +1.26%.
  • Big names still to report earning next week include: Lowe's, Walmart, Target, Williams-Sonoma, TJX, Nvidia, Palo Alto Networks, Intuit, Copart and the Gap.