• Still weaker, stocks have completely recovered from this morning's post-data lows to near overnight levels. Stocks sold off after this morning's lower than expected weekly claims and strong PCE data saw chances of a rate cut in 2024 evaporate. Currently, DJIA is down 446.94 points (-1.16%) at 38014.52, S&P E-Minis down 38 points (-0.74%) at 5069.75, Nasdaq down 145.3 points (-0.9%) at 15567.6.
  • Laggers: Communication Services and Information Technology sectors continued to underperform in late trade: off lows, Meta is still -9.95%, Comcast -6.09%, IBM -8.14%, Microsoft -2.32%. Chip stocks continued to extend gains for the fourth day running: Teradyne +7.84%, Nvidia +4.26%, Monolithic Power +3.65%.
  • Leading gainers: Materials and Energy sectors outperformed in the second half, metals and mining stocks trading strong: Newmont +12.93%, Freeport McMoRan +2.40%. Oil equipment and services shares supported the Energy sector: Baker Hughes +1.58%, Hess +1.31%, Diamondback Energy +0.83%.
  • Corporate earnings announcements expected after the close: Capital One, L3Harris, Intel, Microsoft, Western Digital, Juniper Networks, KLA Corp, T-Mobile, Alphabet, Gilead Sciences, Snap Inc.

US STOCKS: Late Equities Roundup: Recovering From Post-Data Lows

Last updated at:Apr-25 18:41By: Bill Sokolis
  • Still weaker, stocks have completely recovered from this morning's post-data lows to near overnight levels. Stocks sold off after this morning's lower than expected weekly claims and strong PCE data saw chances of a rate cut in 2024 evaporate. Currently, DJIA is down 446.94 points (-1.16%) at 38014.52, S&P E-Minis down 38 points (-0.74%) at 5069.75, Nasdaq down 145.3 points (-0.9%) at 15567.6.
  • Laggers: Communication Services and Information Technology sectors continued to underperform in late trade: off lows, Meta is still -9.95%, Comcast -6.09%, IBM -8.14%, Microsoft -2.32%. Chip stocks continued to extend gains for the fourth day running: Teradyne +7.84%, Nvidia +4.26%, Monolithic Power +3.65%.
  • Leading gainers: Materials and Energy sectors outperformed in the second half, metals and mining stocks trading strong: Newmont +12.93%, Freeport McMoRan +2.40%. Oil equipment and services shares supported the Energy sector: Baker Hughes +1.58%, Hess +1.31%, Diamondback Energy +0.83%.
  • Corporate earnings announcements expected after the close: Capital One, L3Harris, Intel, Microsoft, Western Digital, Juniper Networks, KLA Corp, T-Mobile, Alphabet, Gilead Sciences, Snap Inc.

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