December 04, 2024 19:27 GMT
US STOCKS: Late Equities Roundup: Eminis & Nasdaq Making New Record Highs
US STOCKS
- Stocks remain bid after a brief pull-back in the lead up to this afternoon's moderated discussion with Fed Chairman Powell. Stocks continued to make record highs in late trade: SPX Eminis tapped 6092.0, Nasdaq at 19,700.63, while the DJIA remains off late November high around 45,067.28 but still making decent gains on the day.
- At the moment, the DJIA trades up 244.56 points (0.55%) at 44949.85, S&P E-Minis up 28.25 points (0.47%) at 6091.75, Nasdaq up 219.4 points (1.1%) at 19700.63.
- Information Technology and Consumer Discretionary sectors continued to lead gainers in late trade, software and services shares outperforming chip stocks for a change: Salesforce Inc trades 8.81% higher after several several upgrades following late Tuesday's positive earnings call; ServiceNow +6.0% while Crowdstrike Holdings gained 4.31%.
- Broadline retailers led the Consumer Discretionary sector with Amazon +1.97%, Best Buy +1.44%, AutoZone +0.96%.
- Conversely, Energy and Materials sectors continued to underperformed in late trade, oil and gas shares weighing on the former as crude prices sold off in the second half (WTI -1.11 at 68.82): Texas Pacific Land -13.66%, Marathon Petroleum -3.67%, Devon Energy -3.75%.
- Meanwhile, metals and mining shares weighed on the Materials sector: Albemarle Corp -5.98%, LyondellBasell Industries -3.48%, Nucor -3.75%.
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