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Equities Roundup: Inside Range, Banks and Miners Outperforming

US STOCKS
  • Stocks are trading mixed ahead midday Tuesday, inside session narrow ranges with the Dow outperforming at the start of the two day FOMC meeting. Currently, the DJIA is up 34.35 points (0.09%) at 38365.35, S&P E-Mini future are down 1.75 points (-0.04%) at 4952.75, Nasdaq down 59.4 points (-0.4%) at 15569.
  • Leading gainers: Financials and Material sector shares outperformed early Tuesday, banks supporting the former: Citigroup +3.51%, Bank of America +3.01%, JP Morgan +1.29%. Shares of mining companies buoyed the Materials sector: Nucor gained +4.22% after beating 4Q earnings est's late Monday, while Steel Dynamics gained 2.1%.
  • Laggers: Real Estate and Utility sectors underperformed in the first half, estate management firms weighing on the former: CBRE Group -1.18%, CoStar -0.75%. Meanwhile, water and independent power providers weighed on the latter: AES -2.14%, American Water Works -1.03%.
  • Looking ahead: corporate earnings docket after the close: Microsoft, AMD, Alphabet, Electronic Arts, Starbucks, Stryker and Teradyne. Already annc's: Sysco, UPS, JetBlue, PulteGroup, GM, Marathon Petroleum, Pfizer, Johnson Controls, Corning and FCA Healthcare.

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