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Equities Roundup: Cashing In Near Highs Ahead Friday's NFP

US STOCKS
  • Stocks are trading weaker, at/.near session lows ahead midday. While Treasuries rallied on weaker data Thursday, equities took it as an opportunity to cash in on near record highs with Information Technology and Energy sector shares reversing yesterday's strength.
  • Currently, the DJIA is down 487.59 points (-1.19%) at 40358.63, S&P E-Minis down 53.5 points (-0.96%) at 5505.5, Nasdaq down 254 points (-1.4%) at 17350.78.
  • Information Technology and Energy sectors underperformed in the first half, semiconductors reversing midweek gains: Qualcomm -8.48% despite strong EPS, Lam Research -8.28%, Applied Materials -6.72%. Oil and Gas shares also pared midweek gains with Hess -6.61%, Halliburton -3.84%, Chevron -3.51%.
  • On the flipside, Real Estate and Communication Services sectors outperformed, investment trusts, particularly Specialty and Residential REITS supported the former: Iron Mountain +5.86%, American Tower +2.74%, Mid-America Apartment +4.74%. Meanwhile, media and entertainment shares buoyed Communication Services: Meta +5.78%, T-Mobil +0.95%.
  • Heavy earnings announcement schedule continues after today's close:Amazon, Roku Inc, GoDaddy, DoorDash, DraftKings Inc, Floor & Decor Holdings, Block Inc, Ventas, Booking Holdings Inc, Coinbase, Clorox, US Steel, Mettler-Toledo Int, EOG Resources, AES Corp, Vertex Pharmaceuticals, Bio-Rad Laboratories, Cable One, Intel, Twilio Inc, Apple Inc, Cloudflare, Microchip Technology, Monolithic Power and Motorola Solutions Inc.

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