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Equities Roundup: Eminis New Contract Highs

  • Stocks remain strong in early afternoon trade, a carry-over rally in semiconductor stocks helping S&P Eminis extend new contract highs: S&P E-Minis currently up 34.75 points (0.68%) at 5139 vs. 5141.75 high, Nasdaq up 182.7 points (1.1%) at 16275.78, DJIA up 49.98 points (0.13%) at 39049.32.
  • Leading Gainers: Information Technology and Energy sectors outperformed Friday, AI demand driving continued broad-based support for chip makers: Broadcom +6.61%, Micron Tech +5.32%, KLA Corp +4.32%, Applied Materials +4.02%.
  • Energy sector shares were supported by oil and gas shares as crude prices rallied (WTI +1.75 at 80.01): Haliburton +2.34%, APA +2.13%, ConocoPhillips +1.91%.
  • Laggers: Utilities and Financial sectors underperformed in the first half, multi-energy and electricity shares weighed the former: Dominion Energy -6.46%, Xcel Energy -5.67%, American Electric Power -2.07%.
  • Insurance names continued to weigh on the Financials sector: Allstate -2.64%, Prudential Financial -1.33%, Hartford -1.30%.

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