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Equities Roundup: Near Late Highs, Materials, IT Sectors Outperform

US STOCKS
  • Stocks gained traction in the second half, trading near late session highs as focus turns to tomorrow's PPI and the FOMC policy announcement. Currently, DJIA trades is up 178.96 points (0.49%) at 36583.68, S&P E-Mini future up 18 points (0.38%) at 4696.25, Nasdaq up 89.5 points (0.6%) at 14521.16.
  • Leading gainers: Materials, Information Technology and Financial sectors outperform in late trade, industrial gasses and construction material makers led the former: Linde +4.20%, Martin Marietta Materials +1.83%, Vulcan Materials +0.96%. Semiconductor shares led IT as AI demand gains traction again: Broadcom +4.68%, AMD +2.14%, Nvidia +1.6%. Insurance companies continued to support Financials: Everest Grp +1.86%, AIG +1.59%, Aflac +1.35%.
  • Laggers: Energy, Utilities and Communication Services sectors underperformed, oil and gas shares weighed on the former as crude prices marked new six month lows (WTI -2.65 at 68.67): Occidental Petroleum -2.91%, Marathon Oil -2.79%, Devon Energy -2.44%. Electricity providers weighed on Utilites: Constellation Energy -1.69%, Pinnacle West -1.61%, Southern Co -1.32%. Meanwhile, wireless services weighed on the communication services: AT&T -1.41%, Verizon -1.19%.

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