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Equities Roundup: Health Care Outperforms, Moderna +13%

US STOCKS
  • Still weaker, stock have gradually recovered from early session lows to session highs around midday, Energy and Health Care sector shares outperforming. At the moment: DJIA are up 67.08 points (0.18%) at 37755.37; S&P E-Mini future down 27.5 points (-0.57%) at 4792.25, Nasdaq down 196.9 points (-1.3%) at 14814.47.
  • Leading gainers: Health Care and Energy sector shares outperformed in late morning trade, biotechnology shares leading the former: Moderna surged +13.68% after Oppenheimer upgraded the stock to outperform while the vaccine maker's CEO reiterated the company's goal of achieving sales growth in 2025, Reuters reported. Meanwhile, oil and gas stocks buoyed the former: Exxon Mobil +2.46%, Pioneer Natural Resources +2.4%, Marathon Petroleum +2%.
  • Laggers: Information Technology and Communication Service sector shares underperformed, chip stocks weighing on the former: AMD -5.0%, Intel -3.76%, Lam Research -3.11%. Meanwhile, Media and entertainment shares weighed on Comm Services: Netflix -3.08%, Meta +2.38%, Google -1.35%.
  • Reminder, the next quarterly earnings cycle starts in earnest next week Friday with UnitedHealth, BlackRock, Bank of America, Wells Fargo, JPMorgan, Citigroup and Bank of NY Mellon.

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