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US STOCKS: Off Midweek Lows, Chip Stocks Lead Gainers Ahead weekend

US STOCKS
  • Stocks are trading higher for the most part Friday, off midweek lows to near early Monday levels ahead midday with the Dow underperforming. Information Technology, Communication Services and Consumer Discretionary stocks outperforming. Currently, the DJIA trades down 80.08 points (-0.19%) at 42293.15, S&P E-Minis up 26 points (0.44%) at 5875, Nasdaq up 217.9 points (1.2%) at 18632.28.
  • Semiconductor makers led gainers in the IT sector: Western Digital +9.17% after topping quarterly profit estimates on strong cloud computing demand, Super Micro Computer +3.81% while Intel gained 3.42%. Of note, Itel announced plans to invest some $28B in two chip factories in Ohio.
  • Interactive media and entertainment shares supported the Communication Services sector: Warner Bros +2.39%, Meta +2.04%. Consumer Discretionary sector shares saw the widest variance: clothing maker Tapestry +15.07%, Deckers Outdoor +12.27%, while Mohawk lost 10.67% after missing estimates late Thursday.
  • On the flipside, Financials and Utility sectors underperformed in the first half, financial services and insurance names weighing on the former: Principal Financial Grp -8.92%, Hartford -6.44%, while Aflac traded -2.06%. Meanwhile, gas and multi-energy companies weighed on the Utility sector: Consolidated Edison -1.25%, DTE Energy -1.23%.
  • Approximately two-thirds of the S&P companies still to report earnings this cycle, some names expected next Monday include: Aon PLC, Colgate-Palmolive, Spirit Airlines, Hertz, NANO Nuclear Energy, New York Community Bank, HCA Healthcare, Arbor Realty Trust, CenterPoint Energy, ON Semiconductor, Ford Motor Co, Waste Management, Crane Co, Cadence Design System, Welltower, Trex and SBA Communications
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  • Stocks are trading higher for the most part Friday, off midweek lows to near early Monday levels ahead midday with the Dow underperforming. Information Technology, Communication Services and Consumer Discretionary stocks outperforming. Currently, the DJIA trades down 80.08 points (-0.19%) at 42293.15, S&P E-Minis up 26 points (0.44%) at 5875, Nasdaq up 217.9 points (1.2%) at 18632.28.
  • Semiconductor makers led gainers in the IT sector: Western Digital +9.17% after topping quarterly profit estimates on strong cloud computing demand, Super Micro Computer +3.81% while Intel gained 3.42%. Of note, Itel announced plans to invest some $28B in two chip factories in Ohio.
  • Interactive media and entertainment shares supported the Communication Services sector: Warner Bros +2.39%, Meta +2.04%. Consumer Discretionary sector shares saw the widest variance: clothing maker Tapestry +15.07%, Deckers Outdoor +12.27%, while Mohawk lost 10.67% after missing estimates late Thursday.
  • On the flipside, Financials and Utility sectors underperformed in the first half, financial services and insurance names weighing on the former: Principal Financial Grp -8.92%, Hartford -6.44%, while Aflac traded -2.06%. Meanwhile, gas and multi-energy companies weighed on the Utility sector: Consolidated Edison -1.25%, DTE Energy -1.23%.
  • Approximately two-thirds of the S&P companies still to report earnings this cycle, some names expected next Monday include: Aon PLC, Colgate-Palmolive, Spirit Airlines, Hertz, NANO Nuclear Energy, New York Community Bank, HCA Healthcare, Arbor Realty Trust, CenterPoint Energy, ON Semiconductor, Ford Motor Co, Waste Management, Crane Co, Cadence Design System, Welltower, Trex and SBA Communications