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Equities Roundup: Narrow Range Ahead Tuesday's CPI

US STOCKS
  • Stocks trading mildly lower in late morning trade, moderate volumes as markets hold narrow ranges ahead Tuesday's CPI inflation data. Currently, S&P E-Mini futures are down 7.25 points (-0.16%) at 4423.5, Nasdaq down 24.3 points (-0.2%) at 13773.57, DJIA down 3.51 points (0.01%) at 34280.59.
  • Initial support for Eminis is still well below: 4332.18 (20-day EMA). Initial technical resistance of 4435.50 (High Oct 10) followed by 4470.18 (61.8% retracement of the Jul 27 - Oct 27 bear leg).
  • Laggers: Utilities and Real Estate sector shares underperformed early Monday, water and electricity providers weighing on the former: AWK -1.3%, American Electric -2.6%, Evergy Inc -1.96%. Real Estate sector weighed by management and services shares: CoStar Group -1.95%, CBRE -1.44%.
  • Leaders: Energy and Consumer Discretionary sectors led by midmorning, equipment and servicer shares buoyed the former: Haliburton +1.05%, Schlumberger +0.88%, Baker Hughes +0.2%. Meanwhile, auto and parts makers underpinned the Consumer Discretionary sector: Tesla +3.15%, GM +0.63%.
  • While the latest corporate earnings cycle is winding down, there are still some big names on the calendar next week: Aramark and NCR on Tuesday, Advanced Auto Parts, TJX and Cisco next Wednesday.

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