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Equities Roundup: Information Technology and Energy Sectors Outpad

  • Off early, pre-data highs, stocks are mixed in late morning trade. Currently, S&P E-Mini futures are down 1.5 points (-0.03%) at 4408, DJIA down 71.98 points (-0.21%) at 33732.53, Nasdaq up 34 points (0.2%) at 13694.23.
  • Leaders: Information Technology and Energy sectors outperformed in the first half, semiconductor shares buoying the former: KLA Corp +4.5%, Applied Materials +4.28%, LAM Research and Broadcom both gaining appr 3.37%.
  • Meanwhile, oil and gas shares gained as crude prices drifted higher (WTI +1.14 at 84.63): Diamondback Energy +1.55%, Hess Corp +1.40%, EOG Resources +1%.
  • Laggers: Consumer Staples and Utilities sectors underperformed, food and beverage names weighing on the former: Hormel -8.47%, Lamb Weston -6.39%, Keurig Dr Pepper -4.75%. Independent power and electricity providers weighed on Utilities: Eversource -4.58%, AES -3.58%, PPL Corp -1.78%.
  • Reminder, Q4 earnings cycle gets underway with several bank shares reporting tomorrow Friday: JP Morgan, Wells Fargo, Blackrock, PNC Financial and Citigroup expected.

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