US STOCKS: Midday Equities Roundup: Unwinding Longs
Dec-29 16:35
Stocks are running weaker ahead midday, scaling off last week's highs as accounts took profits going into year end. Volumes improved with European bourses back from extended Christmas holidays.
Currently, the DJIA trades down 240.28 points (-0.49%) at 48476.49, S&P E-Mini Futures down 31.5 points (-0.45%) at 6948.5, Nasdaq down 143.6 points (-0.6%) at 23450.81.
Materials, IT and Discretionary sector shares led declines in the first half, mining stocks unwinding support as Gold fell sharply from Friday's record highs (4335.0 current vs. 4533.21 Frida): Newmont -5.02%, Albemarle -3.01%, Freeport-McMoRan -2.38% and Martin Marietta Materials -1.75%.
Concerns over AI-related valuations weighed on Tech stocks (again): Sandisk Corp -3.60%, NVIDIA -2.00%, ON Semiconductor -1.69% and Oracle -1.30%.
Meanwhile, luxury travel related shares trade weaker: Norwegian Cruise Line -2.63%, Tesla -1.90%, MGM Resorts -1.65%, Royal Caribbean -1.55%.
On the positive side, Utilities and Energy sector shares led advances ahead midday: Devon Energy +2.07%, Diamondback Energy +1.87%, Expand Energy +1.59% and Exxon Mobil +1.59%.
While PG&E gained +1.43%, Edison International +1.09%, Southern Co +1.00%, NextEra Energy +0.86% and Eversource Energy +0.83%.
FED: US TSY 26W BILL AUCTION: HIGH 3.500%(ALLOT 87.64%)
Dec-29 16:32
US TSY 26W BILL AUCTION: HIGH 3.500%(ALLOT 87.64%)
US TSY 26W BILL AUCTION: DEALERS TAKE 49.03% OF COMPETITIVES
US TSY 26W BILL AUCTION: DIRECTS TAKE 8.69% OF COMPETITIVES
US TSY 26W BILL AUCTION: INDIRECTS TAKE 42.28% OF COMPETITIVES
US TSY 26W BILL AUCTION: BID/CVR 2.52
FED: US TSY 13W BILL AUCTION: HIGH 3.570%(ALLOT 74.04%)
Dec-29 16:32
US TSY 13W BILL AUCTION: HIGH 3.570%(ALLOT 74.04%)
US TSY 13W BILL AUCTION: DEALERS TAKE 36.74% OF COMPETITIVES
US TSY 13W BILL AUCTION: DIRECTS TAKE 6.49% OF COMPETITIVES
US TSY 13W BILL AUCTION: INDIRECTS TAKE 56.77% OF COMPETITIVES