US STOCKS: Early Equities Roundup: Dow Off New Highs, Chip Makers Lead Decline
Dec-12 15:36
- Stocks are trading lower Friday - carry-over weakness in the tech-heavy Nasdaq pulled the DJIA off new record highs in early trade (48,886.86).
- Currently, the DJIA trades down 19.84 points (-0.04%) at 48677.24, S&P E-Mini Futures down 50 points (-0.72%) at 6856.25, Nasdaq down 264 points (-1.1%) at 23324.76.
- Information Technology and Industrials sector shares led declines in the first half, carry-over selling in semiconductor shares weigh on the tech sector amid ongoing AI-valuations concern:
- Sandisk Corp -11.01%, Broadcom -9.60%, Western Digital -7.00%, Seagate Technology -5.63%, Arista Networks -4.93%, Micron Technology -4.85% and Corning -4.26%.
- Supporting the Industrials sector: GE Vernova -5.44%, Quanta Services -4.33%, Eaton Corp -4.09%, EMCOR Group -3.08% and Generac Holdings -2.58%.
- On the positive side, Health Care and Materials sector shares outperformed:
- Bristol-Myers Squibb +3.07%, Humana +2.71%, Centene +2.15% and UnitedHealth Group +1.82%.
- Meanwhile, Mosaic Co +3.29%, Linde +2.29%, Ball Corp+2.13% and Newmont +1.57% buoyed the Materials sector in the first half.
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GILT AUCTION PREVIEW: On offer next week
Nov-12 15:30
The DMO has announced it will be looking to sell GBP4.5bln of the 4.75% Oct-35 Gilt (ISIN: GB00BTXS1K06) at its auction next Wednesday, November 19.
SOFR OPTIONS: Midcurve outright Call buyer
Nov-12 15:25
3QM6 96.87c, bought for 13.5 in 2kl.
EUROSTOXX50 TECHS: EUROSTOXX50 Futures Bull Cycle Extends
Nov-12 15:22
- A medium-term bull trend in EUROSTOXX 50 futures remains intact.
- The contract has traded through resistance at 5742.00, the Oct 29 high to confirm a resumption of the uptrend.
- This paves the way for an extension within the bull channel.
- On the downside, initial firm support is seen at levels around the 20-day EMA.
