December 03, 2024 20:09 GMT
US STOCKS: Late Equities Roundup: Off Early Lows, Hold Steady to Mildly Mixed
US STOCKS
- Stocks have recovered from this morning's South Korea-tied sell-off as South Korea President Yoon Suk Yeol said he would lift the imposition of martial law ordered earlier in the session. Notably Eurex Daily KOSPI is up 0.8% in late trade and 4.2% from session lows (effectively erasing session losses). USDKRW NDFs strengthening modestly as well.
- Currently, the DJIA trades down 53.9 points (-0.12%) at 44728.07, S&P E-Minis up 2.75 points (0.05%) at 6064.25, Nasdaq up 51.5 points (0.3%) at 19455.16.
- Communication Services and Information Technology sectors outperformed in late trade: ATT +3.57%, Meta +2.67%, News Corp +1.40%. Leading tech stocks included Palantir Technologies +6.84%, Teradyne and Micron both +1.80% while Crowdstrike gained 1.13%.
- There were some notable underperforming chip stocks, however: Microchip Technology -5.77%, Intel -5.60%, Seagate -4.75%, ON Semiconductor -5.14%.
- Industrials and Financial sectors underperformed, transportation related shares weighing on the former with FedEx -3.89%, UPS -3.11%, JB Hunt -2.18%. Meanwhile, bank and financial services share traded weaker: Aflac -3.71%, KeyCorp -1.54%, PayPal Holdings -1.42%.
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