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US STOCKS: Late Equities Roundup: Session Lows, But Still Well Bid for Week

US STOCKS
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  • Stocks are looking moderately weaker late Thursday, near the bottom of the session range. Late session levels are still not far from the week highs as markets continue to digest this morning's mixed data while contemplating Friday's PPI. Currently, the Dow trades 170.85 points (-0.4%) at 42341.56, S&P E-Minis down 24.5 points (-0.42%) at 5816.75, Nasdaq down 41.1 points (-0.2%) at 18251.91.
  • Energy and Materials sectors continued to lead gainers in late trade, a rebound in crude prices (WTI +2.65 at 75.89) underpinned oil and gas stocks: Valero +2.63%, Devon Energy +2.40%, Marathon Petroleum +2.28%. The Materials sector was supported by a mix of chemical (Mosaic +3.08%, Albemarle +1.0%) and mining stocks (Newmont +1.23%, Freeport-McMoRan +1.21%), the latter likely underpinned by a rise in Gold on the session (+21.18 at 2628.95).
  • On the flipside, Real Estate and Consumer Staples sectors continued to underperform, estate management shares weighing on the former: CBRE Group -1.31%, CoStar Group -1.0%. Meanwhile, Retail distributors weighed on the Consumer Staples sector: Kroger -1.96%, Costco -1.81%, Walmart -1.00%. 
  • Reminder, the latest earning cycle picks up Friday with several banks reporting before the open: Wells Fargo, JP Morgan, Bank of NY Mellon and Blackrock.
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  • Stocks are looking moderately weaker late Thursday, near the bottom of the session range. Late session levels are still not far from the week highs as markets continue to digest this morning's mixed data while contemplating Friday's PPI. Currently, the Dow trades 170.85 points (-0.4%) at 42341.56, S&P E-Minis down 24.5 points (-0.42%) at 5816.75, Nasdaq down 41.1 points (-0.2%) at 18251.91.
  • Energy and Materials sectors continued to lead gainers in late trade, a rebound in crude prices (WTI +2.65 at 75.89) underpinned oil and gas stocks: Valero +2.63%, Devon Energy +2.40%, Marathon Petroleum +2.28%. The Materials sector was supported by a mix of chemical (Mosaic +3.08%, Albemarle +1.0%) and mining stocks (Newmont +1.23%, Freeport-McMoRan +1.21%), the latter likely underpinned by a rise in Gold on the session (+21.18 at 2628.95).
  • On the flipside, Real Estate and Consumer Staples sectors continued to underperform, estate management shares weighing on the former: CBRE Group -1.31%, CoStar Group -1.0%. Meanwhile, Retail distributors weighed on the Consumer Staples sector: Kroger -1.96%, Costco -1.81%, Walmart -1.00%. 
  • Reminder, the latest earning cycle picks up Friday with several banks reporting before the open: Wells Fargo, JP Morgan, Bank of NY Mellon and Blackrock.