US STOCKS: Early Equities Roundup: Oil & Defense Stocks Stem Broader Sell-Off
Jun-13 15:15
- Stocks remain in negative territory early Friday, off lows while markets remain wary of further unrest in the Middle East after Israel bombed an Iranian nuclear facility and took lethal action against several military commanders overnight.
- Currently, the DJIA trades down 495.23 points (-1.15%) at 42472.11, S&P E-Minis down 41.25 points (-0.68%) at 6008, Nasdaq down 157.7 points (-0.8%) at 19504.56.
- Not surprisingly Energy and Industrial sectors outperformed in the first half due to the overnight bombing, namely oil and gas shares led gainers as crude prices soared (WTI tapped overnight high of 77.16, trades 71.77 at the moment +3.73): Halliburton +4.37%, APA +3.66%, Targa Resources +3.41%, Diamondback Energy +3.31%, EOG Resources +3.14% and Occidental Petroleum +3.13%.
- Defense stocks buoyed the Industrials sector: Lockheed Martin +3.35%, Northrop Grumman +3.05%, RTX +2.14% and General Dynamics +1.79%.
- On the flipside, Financial and Information Technology sectors underperformed early Friday, services weighed on the former: Visa -5.99%, Mastercard -5.31%, PayPal Holdings -4.83%, Global Payments -3.42% and Apollo Global Management -3.29%
- Meanwhile, semiconductor and hardware makers weighed on the IT sector: Adobe -5.88%, Monolithic Power Systems -4.65%, Super Micro Computer -3.41% and ON Semiconductor -2.53%.
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US 10YR FUTURE TECHS: (M5) Bear Mode Condition
May-14 15:15
- RES 4: 112-20+ High May 1 and a bull trigger
- RES 3: 112-01+ High May 2
- RES 2: 111-22 High May 7 and a key near-term resistance
- RES 1: 111-01 20-day EMA
- PRICE: 109-28+ @ 16:04 BST May 14
- SUP 1: 109-28 Low May 14
- SUP 2: 109-08 Low Apr 11 and key support
- SUP 3: 108-26+ 76.4% retracement of the Jan 13 - Apr 7 bull cycle
- SUP 4: 108-21 Low Feb 19
Treasury futures extended a softer tone following recent weakness. Support at 110-01+, 76.4% of the Apr 11 - May 1 bull leg, has been cleared. The breach strengthens a bearish theme and exposes a key support at 109-08, the Apr 24 low and a bear trigger. Key near-term resistance has been defined at 111-22, the May 7 high. A move above this level is required to signal a potential reversal.
FED: US TSY 17W AUCTION: NON-COMP BIDS $619 MLN FROM $60.000 BLN TOTAL
May-14 15:15
- US TSY 17W AUCTION: NON-COMP BIDS $619 MLN FROM $60.000 BLN TOTAL
US TSY OPTIONS: BLOCK/Screen: Latest 10Y Put Buyers
May-14 15:13
- +41,000 (24k Blocked) TYQ5 108 puts 35 vs. 109-29.5/0.24%
- +6,000 TYN5 108/109 put spds, 14 ref 109-30
