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US STOCKS: Late Equities Roundup: Paring Early Gains Ahead Weekend

US STOCKS
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  • Stocks are consolidating ahead of the weekend, the Dow still outperforming Eminis and Nasdaq stocks after climbing to new all-time high of 42,625.70 earlier Friday. Currently, the DJIA is up 112.62 points (0.27%) at 42285.88, S&P E-Minis down 16.5 points (-0.28%) at 5787.75, Nasdaq down 104.8 points (-0.6%) at 18086.
  • Energy and Utility sectors continued to lead gainers in late trade, oil & gas shares recovering from better selling as crude prices declined Thursday: APA +3.54%, EQT +3.21%, Coterra +2.52%. Independent power shares buoyed the Utility sector: Vistra +3.79%, AES +2.29%, Eversource +2.14%.
  • Conversely, Information Technology and Materials sectors underperformed in the second half, semiconductors continued pare gains for earlier in the week: Nvidia -2.80%, Broadcom -2.75%, Lam Research -2.66%. Late Friday headline from Bbg weighing on Nvidia: “Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence chips instead of Nvidia Corp. products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions.”
  • Similarly, metals stocks weighed on the Materials sector as Gold retreated from new highs this week: Newmont Corp -2.76%, Freeport-McMoRan -0.91%.
  • Reminder, still two weeks away, but the next corporate earnings cycle kicks off on Friday, October 11 with Bank of NY Mellon, Wells Fargo, and JP Morgan and Blackrock.
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  • Stocks are consolidating ahead of the weekend, the Dow still outperforming Eminis and Nasdaq stocks after climbing to new all-time high of 42,625.70 earlier Friday. Currently, the DJIA is up 112.62 points (0.27%) at 42285.88, S&P E-Minis down 16.5 points (-0.28%) at 5787.75, Nasdaq down 104.8 points (-0.6%) at 18086.
  • Energy and Utility sectors continued to lead gainers in late trade, oil & gas shares recovering from better selling as crude prices declined Thursday: APA +3.54%, EQT +3.21%, Coterra +2.52%. Independent power shares buoyed the Utility sector: Vistra +3.79%, AES +2.29%, Eversource +2.14%.
  • Conversely, Information Technology and Materials sectors underperformed in the second half, semiconductors continued pare gains for earlier in the week: Nvidia -2.80%, Broadcom -2.75%, Lam Research -2.66%. Late Friday headline from Bbg weighing on Nvidia: “Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence chips instead of Nvidia Corp. products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions.”
  • Similarly, metals stocks weighed on the Materials sector as Gold retreated from new highs this week: Newmont Corp -2.76%, Freeport-McMoRan -0.91%.
  • Reminder, still two weeks away, but the next corporate earnings cycle kicks off on Friday, October 11 with Bank of NY Mellon, Wells Fargo, and JP Morgan and Blackrock.