Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching on Thursday as the major averages logged a third straight day of gains and what’s on the radar for Friday’s session. AbbVie earnings ahead The biotech giant reports earnings Friday before the bell. The stock is up 6% since last reporting three months ago. But shares are down 14% so far this month. CNBC’s Angelica Peebles will have AbbVie ‘s numbers and the stock reaction on “Squawk Box.” The biotechs under pressure The S & P Biotech ETF (XBI) is down 12.5% in three months. It is 23% from its November 52-week high. A look at financials The group is the focus of “Sectornomics” on CNBC TV tomorrow with Dominic Chu. He’ll hit the big banks. JPMorgan is 12.7% from a 52-week high the stock hit in February. Shares are up 5.5% over the past week. Wells Fargo is up more than 7% in a week; it is 14.6% from its 52-week high. Goldman Sachs is also up 7% in a week. The stock is 19% from its high. Bank of America is up nearly 6% in a week. The stock is 17.7% from its high. Morgan Stanley is up almost 6% in a week, and is 18.6% from its high. Citigroup is up about 8% in a week, and is 20% from a February high. JPM YTD mountain JPMorgan stock performance Existing Homes CNBC’s Diana Olick reported a big drop off in existing home sales. Sales slowed to 2019 lows, and prices are also seeing a softening. For most Americans, their home is their most valuable asset and things aren’t going great. The S & P Homebuilders ETF (XHB) was up 2.5% today. It is 25% from the November high. Pultegroup was up 1.8% today. The stock is 31% from the October high. KB Home was up 1.5% today. It is 39.5% from the September high. Lennar picked up 1.5% today. The stock is 41% from the September high. Toll Brothers was up 2.9% today. The stock is 40% from the November high. D.R. Horton picked up 1%. It is 37% from the September high. Housing analyst Ivy Zelman told CNBC Thursday: ”If we have motivated sellers, we’ll start to see not only higher turnover but further deceleration in home prices, and I think that we’re seeing that already, but I think it will decelerate further.” That’s Wall Street analyst speak for things will probably get worse. Data center demand CNBC’s Spencer Kimball reported that Nvidia and Amazon executives say the building of AI data centers is not slowing down . Amazon’s vice president of global data centers said, ”We continue to see very strong demand and we’re looking both in the next couple years as well as long term and seeing the numbers only going up.” The Pacer Benchmark Data & Infrastructure Real Estate ETF (SRVR) was up 1% today, and it is 11% from its October high. The Global X Data Center & Digital Infrastructure ETF (DTCR) was up 1% as well. That fund is 18% from its February high. The iShares U.S. Digital Infrastructure and Real Estate ETF (IDGT) was up 1.35% today; it is 15% from the Dec. 9 high. The Digital Realty Trust (DLR) was up 1.4% today. The stock is 22% from a 52-week high it hit in November. The airlines see soft demand Three great interviews by CNBC’s Phil LeBeau and super producer Meghan Reeder today. Alaska Air CEO Ben Minicucci told LeBeau ”on the domestic leisure front we are seeing a softening of demand.” American Airlines CEO Robert Isom said ”domestic leisure travel fell off considerably.” Southwest’s Bob Jordan said ”in early February we began to see the economic weakness creep in.” You don’t have to be a pilot to need more visibility than this. Alaska shares dropped 10% Thursday. The stock is 47% from its Feb. 19 high. Southwest was up 3.7% today. It is 27% from a Dec. 5 high. American Airlines was up 3%; it is 50% from a Jan. 22 high. ALK 3M mountain Alaska Air stock performance Thank the chip stocks “Squawk on the Street” anchor Carl Quintanilla said in the 9 a.m. hour Thursday morning: “Thank goodness for the chips.” The VanEck Semiconductor ETF (SMH) was up 5% today. It remains 26% from its high on July 11. Nvidia was up 3.6% today. It is 30% from the Jan. 7 high. Advanced Micro Devices was up 4.5% today. It is 50% from the July high. Intel was closed up 4.4% today. The stock, which is 42% from a July high, was trading lower in extended hours after issuing a weak forecast. Microchip Technology led the way, up 12%. It is 53% from the May 2024 high. ON Semiconductor picked up 9% today. It is 50% from its July high.
