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Equities Roundup: Communication Services, Financials Lead Gainers

US STOCKS
  • Stocks continue to recede from midmorning highs, SPX and Nasdaq indexes in mildly negative territory at the moment, Tsy bonds extending lows as well in a delayed reaction to a weak 30Y auction. Apparently, little conviction ahead of tomorrow's PPI read given today's CPI miss.
  • Currently, DJIA shares are up 23.62 points (0.07%) at 35148.19, S&P E-Mini futures down 6.25 points (-0.14%) at 4478.5, Nasdaq down 11.8 points (-0.1%) at 13709.53.
  • Leading gainers: Communication Services and Financials sectors are outperforming. Shares of Disney +4.45% buoyed Communication Services after their parks division reported $8.3 billion in revenue, up 13%, and an operating income of $2.43 billion—despite a slowdown at Walt Disney World.
    Other gainers included
  • Other gainers included Charter Communication +1.65%, Netflix +1.25%, Verizon +1.1%. Financials see some relief from better selling in the first half of the week following Moody's regional bank downgrades: FleetCor +4.05%, Northern Trust +1.38%, Bank of NY Mellon +1.1%.
  • Laggers: Industrials, Real Estate and Energy sectors underperformed. Construction, engineering and building products names weighed on Industrials: Parker Hannifin -2.15%, Quanta Services -2.0%, Johnson Controls -1.85%. Meanwhile, management/development services shares weighed on the Real Estate sector with Ventas -1.85, Weyerhaeuser -1.2%.

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