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US STOCKS: Late Equities Roundup: IT Underperforms Ahead Nvidia Earnings

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • Stocks remain in negative territory after reversing early Wednesday gains, inside a the session range after reacting negatively to headlines that Ukraine has fired up to 12 Anglo-French Storm Shadow long-range missiles into Russia. Markets had reacted positively to wires reporting the Kremlin was open to discussing a cease fire with Ukraine.
  • Currently, the DJIA trades down 55.82 points (-0.13%) at 43211.56, S&P E-Minis down 33 points (-0.56%) at 5905.5, Nasdaq down 162 points (-0.9%) at 18824.38.
  • The Information Technology sector led laggers in late trade, semiconductor shares weighing (Qualcomm -6.75%, Monolithic Power -5.83%) 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.
  • Consumer Discretionary and Staples sectors underperformed in late trade, auto makers weighing on the former with Tesla -2.2%, Ford -3.89%. The Consumer Staples sector was weighed down by distribution and retail shares, most notably Target -21.53% after misses both EPS and revenue figures, while guiding lower on its Q4 EPS. Meanwhile, Dollar Tree traded -3.58%, Dollar General traded down 3.70%.
  • On the flip-side, Health Care and Energy sectors continued to outperform in the second 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 +2.50%, Bio-Techne +3.25%, Humana +4.51%. Oil and gas shares buoyed the Energy sector: EQT Corp +4.65%, Halliburton +2.0% while Coterra gained 0.95%.
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  • Stocks remain in negative territory after reversing early Wednesday gains, inside a the session range after reacting negatively to headlines that Ukraine has fired up to 12 Anglo-French Storm Shadow long-range missiles into Russia. Markets had reacted positively to wires reporting the Kremlin was open to discussing a cease fire with Ukraine.
  • Currently, the DJIA trades down 55.82 points (-0.13%) at 43211.56, S&P E-Minis down 33 points (-0.56%) at 5905.5, Nasdaq down 162 points (-0.9%) at 18824.38.
  • The Information Technology sector led laggers in late trade, semiconductor shares weighing (Qualcomm -6.75%, Monolithic Power -5.83%) 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.
  • Consumer Discretionary and Staples sectors underperformed in late trade, auto makers weighing on the former with Tesla -2.2%, Ford -3.89%. The Consumer Staples sector was weighed down by distribution and retail shares, most notably Target -21.53% after misses both EPS and revenue figures, while guiding lower on its Q4 EPS. Meanwhile, Dollar Tree traded -3.58%, Dollar General traded down 3.70%.
  • On the flip-side, Health Care and Energy sectors continued to outperform in the second 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 +2.50%, Bio-Techne +3.25%, Humana +4.51%. Oil and gas shares buoyed the Energy sector: EQT Corp +4.65%, Halliburton +2.0% while Coterra gained 0.95%.