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US STOCKS: Late Equities Roundup: Taking Profits Ahead Weekend, Energy Soars

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks are trading modestly weaker late Friday, off lows on narrow session ranges, however, following surprisingly dovish comments from Fed Gov Waller on CNBC. Not surprisingly, profit taking weighed the day after S&P Eminis and the Dow climbed to new all time highs (5796.00 and 42,152.06 respectively) while Friday's triple witching index rebalancing elicited little reaction in the first half.
  • In late trade, the DJIA trades down 21.32 points (-0.05%) at 42000.83, S&P E-Minis down 23 points (-0.4%) at 5754.5, Nasdaq down 74.3 points (-0.4%) at 17936.64.
  • Utilities and Communication Services outperformed in the second half, energy companies supporting the former. Notably, Constellation Energy surged over 21% after announcing a restart of Three Mile Island reactors to supply energy for Microsoft data centers.
  • Next up was Vistra +14.4% after acquiring full equity interest in Vistra Vision after purchasing four nuclear power plants earlier in the year. A distant third, NRG Energy gained 5.07% on the day.
  • Meanwhile, Verizon +0.75%, Meta +0.59% and AT&T +0.49% led gainers in the Communication Services sector.
  • On the flipside, Industrials and Materials sectors underperformed, air freight & transportation shares weighed on the former: Fedex falling over 14% after missing earnings expectations and poor outlook. Old Dominion -5.57%, JB Hunt Transportation -2.98%. Packaging and container shares weighed on the Materials sector: Smurfit WestRock -3.55%,  International Paper -2.34%, Ball Corp -1.46% later in the second half.
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  • Stocks are trading modestly weaker late Friday, off lows on narrow session ranges, however, following surprisingly dovish comments from Fed Gov Waller on CNBC. Not surprisingly, profit taking weighed the day after S&P Eminis and the Dow climbed to new all time highs (5796.00 and 42,152.06 respectively) while Friday's triple witching index rebalancing elicited little reaction in the first half.
  • In late trade, the DJIA trades down 21.32 points (-0.05%) at 42000.83, S&P E-Minis down 23 points (-0.4%) at 5754.5, Nasdaq down 74.3 points (-0.4%) at 17936.64.
  • Utilities and Communication Services outperformed in the second half, energy companies supporting the former. Notably, Constellation Energy surged over 21% after announcing a restart of Three Mile Island reactors to supply energy for Microsoft data centers.
  • Next up was Vistra +14.4% after acquiring full equity interest in Vistra Vision after purchasing four nuclear power plants earlier in the year. A distant third, NRG Energy gained 5.07% on the day.
  • Meanwhile, Verizon +0.75%, Meta +0.59% and AT&T +0.49% led gainers in the Communication Services sector.
  • On the flipside, Industrials and Materials sectors underperformed, air freight & transportation shares weighed on the former: Fedex falling over 14% after missing earnings expectations and poor outlook. Old Dominion -5.57%, JB Hunt Transportation -2.98%. Packaging and container shares weighed on the Materials sector: Smurfit WestRock -3.55%,  International Paper -2.34%, Ball Corp -1.46% later in the second half.