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Climbing Off Midday Lows

US STOCKS
  • Stocks remain mixed but off midday lows as with Dow components outpace weaker SPX and Nasdaq indexes. Currently, DJIA is up 59.82 points (0.17%) at 35620.08, S&P E-Mini future down 12 points (-0.26%) at 4603, Nasdaq down 49.1 points (-0.3%) at 14297.03.
  • Laggers: Consumer Discretionary, Utilities and Health Care sectors remain weak in late trade. Autos weighed on discretionary stocks, Tesla -2.00%, GM -0.75%, followed by services subsector with hotel, resort and cruise line shares lower: Norwegian Cruise Lines -13.05% (reports strong second quarter but gives poor forward guidance) compared to the next lowest Carnival -4.75% (retiring $1.2B high-ost debt while issuing $500M secured junk bonds).
  • Leading gainers: Information Technology, Industrials and Real estate sectors outperforming (communication services pared earlier gains). Software and services buoyed IT: Palo Alto Network +1.6%, Now Services +1.35%, Accenture +1.15%. Industrials pushed higher late with capital goods lead by gains in machinery and electrical equipment share: Caterpillar +8.56% after strong earning this morning, Stanley Black & Decker +4.42%.

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