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Equities Roundup: DJIA Outperforming

US STOCKS
  • Stocks trading mostly weaker by midday Wednesday, off early session highs after another round of positive annc's from Thermo Fisher, Hilton, Owens Corning, T-Mobile, and General Dynamics this morning.
  • Stocks announcing Q4 results after the close include: Mattel Inc, Whirlpool Corp, O'Reilly Automotive, Wyndham Hotels, IBM, Baker Hughes, Sun Communities, Meta Platforms, United Rentals and Raymond James.
  • Currently, DJIA is up 28.6 points (0.09%) at 33169.46, S&P E-Mini Futures down 44 points (-1.03%) at 4227.5, Nasdaq down 237.3 points (-1.8%) at 12901.15
  • Laggers: Communication Services and Consumer Discretionary sectors underperformed in the first half, Alphabet (formerly Google) -9.9% after beating estimates late Tuesday - but weighed by lagging cloud computing growth. Weaker media and entertainment added to the early tone with Match -2.75%, Meta -2.0%, Warner Bros -1.75%. Broadline retailer stocks weighed on the Consumer Discretionary sector: Amazon -4%, Etsy -2.8%, Ebay -2.68%.
  • Leaders: Consumer Staples and Utilities sectors outperformed, food and beverage shares buoyed the former: McCormick +2.65%, Hormel +2.36%, Dollar General +2.12%. Independent power and electricity providers supported Utilities for the second consecutive session : NextEra Energy +2.2% after beating estimates yesterday, CMS +0.97%, AES +0.75%.

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