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Equities Roundup: Energy, Consumer Staples, Health Care Underperforms

US STOCKS
  • Stocks are holding narrowly mixed levels after midday as risk sentiment sours as Lebanon/Israel continue to exchange rocket fire. Currently, S&P E-Mini futures are down 6.25 points (-0.14%) at 4386, DJIA down 48.2 points (-0.14%) at 33690.39, Nasdaq up 20.8 points (0.2%) at 13584.24.
  • Laggers: Energy, Consumer Staples and Health Care sectors underperformed, oil and gas shares weighing on the Energy sector with crude weaker (WTI -1.67 at 84.30): Exxon Mobil -4.56% after announcing a merger with Pioneer Natural Resources earlier, Chevron -3%, EQT Corp -1.52%.
  • Meanwhile, food and beverage shares weighed on Consumer Staples: Lamb Weston -4.5%, Bunge -3.56%, Keurig/Dr Pepper -3.28T. Health Care weighed down by dialysis stocks: Davita -19.63%, Baxter -10.05%, Insulet -7.58% tied to Novo Nordisk successful diabetes treatment Ozempic.
  • Leaders: Real Estate and Communication Services outperformed, specialized and health care REITS buoying the former: American Tower +2.53, SBA Comm -1.89%. Meanwhile, media and entertainment shares buoyed the communication Services sector: Match Group +2.75%, Live Nation +1.56%, Google +1.5%.
  • Reminder, Q4 earnings cycle gets underway with several bank shares reporting this Friday: JP Morgan, Wells Fargo, Blackrock, PNC Financial and Citigroup expected.
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