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Equities Roundup: Auto Makers Lead Discretionary Sector

US STOCKS
  • Stocks are trading narrowly mixed ahead midday Monday, S&P Eminis near steady after extending contract high to 4934.25 last Friday. Currently, S&P E-Mini futures are up 2.5 points (0.05%) at 4919.25, Nasdaq up 33.4 points (0.2%) at 15490.2, DJIA down 9.24 points (-0.02%) at 38102.03.
  • Leading gainers: Consumer Discretionary and Utility sectors outperformed in the first half. Auto makers buoyed the Discretionary sector for the second day running: Tesla up +2.66% after falling over -12% last Thursday on poor sales guidance and several downgrades. Meanwhile, water and electricity providers buoyed the latter: American Water Works +0.89%, NextEra Energy +1.44%, Excel Energy +0.65%.
  • Laggers: Energy and Material sector shares underperformed early Monday, oil and gas shares weighed on the former: OneOK -2.36%, APA Corp -1.59%, Targa Resources -1.44% as crude pared last week's late gains (WTI currently -0.93 at 77.08). Shares of container/packaging companies weighed on the Materials sector: International Paper -2.2%, Packaging Corp of America -1.58%, Westrock -1.27%.
  • Looking ahead: flood of earnings announcements this week: Nucor Corp, Corning, Pfizer, UPS, GM, MSFT, Alphabet, Starbucks, Boeing, Boston Scientific. Mastercard, MetLife and Meta by Wednesday.

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