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Equities Roundup: Late Recovery While Banks, Energy Still Lagging

US STOCKS
  • Stocks bounced off midday lows, Dow Industrials still in the red in late Tuesday trade with Energy and Financial sector shares underperforming. Currently, the DJIA trades down 123.75 points (-0.3%) at 40707.45, S&P E-Minis up 16.25 points (0.3%) at 5496, Nasdaq up 110.6 points (0.7%) at 16995.3.
  • Energy sector shares were weighed by a drop in crude prices (WTI -2.73 at 65.98) amid ongoing surplus overhang concerns: APA -5.44%, Diamondback Energy -4.96%, Exxon Mobil -3.69%.
  • Meanwhile, banks and financial services weighed on the Financial sector, Ally Financial falling over 18% amid increasing "credit challenges" while JP Morgan -5.12% after bank officials discussed interest income concerns during an earlier conference call, Citigroup -4.08%, Citizens Financial -3.97%.
  • On the flipside, Real Estate and Information Technology sector shares outperformed, shares of specialized REITS supporting the former: Digital Realty +4.46%, Equinix +3.87%, Iron Mountain +2.64%. Renewed demand for high-end AI chips helped Oracle gain 11.09%, Broadcom +5.59%, AMD +2.63%.
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