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Equities Roundup: IT, Insurance Lift Indexes to Post-CPI Highs

US STOCKS
  • Stocks are gaining traction following early post-CPI related volatility this morning, climbing to the highest levels since the beginning of the month with Financials and Information Technology sectors outperforming.
  • Currently, the DJIA trades up 193.81 points (0.49%) at 39956.56, S&P E-Minis up 19 points (0.35%) at 5477.75, Nasdaq up 29.6 points (0.2%) at 17216.79.
  • Information Technology and Financials sectors lead gainers in late morning trade, semiconductor and software makers and up for the third consecutive session: Micron +3.13%, Crowdstrike Holdings +2.97%, Fortinet +2.74%. Insurance names outpaced banks: Allstate +5.12%, Progressive +4.65%, and Charles Schwab +3.06%.
  • Conversely, Communication Services and Consumer Discretionary sectors lagged in the first half, interactive media & entertainment weighed on the former: Google -3.41%, Warner Bro's -2.27%, Match Group -2.27%. Autos and Broadline retailers weighed on the Consumer Discretionary sector: Starbucks -4.04% after surging more than 20% yesterday after acquiring Chipotle's CEO, Tesla -2.63%, Etsy -2.25%.
  • Note, late earnings announcements expected this week: Brinker Int, Samsonite and Cisco late Wednesday; Walmart, Applied Materials and Deere & Co on Thursday.

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