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Equities Roundup: Eminis Back to Late May '24 Levels

US STOCKS
  • Stocks retreated sharply Friday after this morning's lower than expected July employment data, adding to Thursday's rout with S&P Eminis back at late May '24 levels. Levels have recovered slightly with buyers stepping in after London went home for the weekend.
  • Currently, the DJIA trades down 730.1 points (-1.81%) at 39620.08, S&P E-Minis down 110 points (-2.01%) at 5370.75, Nasdaq down 404 points (-2.3%) at 16790.98.
  • Reversing Thursday gains, Consumer Discretionary and Energy sectors underperformed in the first half, auto parts, broadline retailers and weighing on the former: Amazon -8.88%, Bath & Body Works -4.95%, Aptiv -5.0% while Borg Warner declined 3.26%. A reversal in crude (WTI -2.82 at 73.49) weighed on oil & gas stocks: APA -7.72%, EQT Corp -5.63%, Devon Energy -5.42%.
  • Conversely, Consumer Staples and Real Estate sectors outperformed with household and personal products makers supporting the former: Clorox +6.02% after beating earnings expectations yesterday, Procter & Gamble +0.81%, while Colgate Palmolive gained 0.63%. Investment trusts, particularly Specialty and Retail REITS supported the latter: Public Storage +2.83%, American Tower +2.79%, Regency Centers +2.74%.
  • Earnings announcement resume late Monday, include the following: Carlyle Group, Diamondback Energy, Realty Income Corp, CSX Corp, Lucid Group Inc, Simon Property Group, ZoomInfo Technologies, Spirit AeroSystems, Definitive Healthcare, Williams Cos, Hims & Hers Health Inc, Palantir Technologies and Crescent Energy.

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