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Equities Roundup: IT, Broadline Retailers Outperforming

US STOCKS
  • Stocks hold marginal gains, near the middle of a narrow session range, supported by Information Technology and Consumer Discretionary sectors. Currently, DJIA trades up 13.58 points (0.04%) at 37261.08, S&P E-Mini futures down 1 points (-0.02%) at 4773.25, Nasdaq up 67.3 points (0.5%) at 14830.48.
  • Leading gainers: IT and Consumer Discretionary sectors outperformed in the first half, semiconductor shares buoyed the former: First Solar +5.48%, Intel +3.83%, Enphase +3.71%. Broadline retailers supported the Consumer Discretionary sector with Amazon +1.30%, CarMax +0.8%, Lowe's +0.52%.
  • Laggers: Utilities and Real Estate sectors pared gains from the prior session, multi energy providers weighing on the latter: Ameren Corp -3.2%, Public Service Grou -2.02%, WEC Energy -1.93%. Meanwhile, real estate investment trusts, particularly for industrial and residential weighed on the latter: Camden Property -2.96%, Invitation Home -2.95%
  • .A bullish theme in S&P e-minis remains intact after the contract traded sharply higher Wednesday. Price is firmer again today and confirms a resumption of the uptrend that started Oct 27. Note too that the contract has cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. This signals scope for a climb towards 4800.00 next. On the downside, initial firm support lies at 4617.32, the 20-day EMA.

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