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Equities Roundup: Off Lows, IT & Autos Weighing

  • Stocks are climbing off early session lows, indexes mixed with mildly weaker SPX Eminis and Nasdaq lagging DJIA components in the first half. Currently, the DJIA is down 16.81 points (-0.04%) at 38613.1, S&P E-Minis down 26.5 points (-0.53%) at 4993.25, Nasdaq down 167.2 points (-1.1%) at 15609.08.
  • Laggers: Information Technology and Consumer Discretionary sectors underperformed in the first half, semiconductor makers weighing on the former: Applied Materials -5.23%, Advanced Micro Devices -5.10% and Nvidia -5.0% (earnings expected after Wednesday's close).
  • Meanwhile, auto and parts makers weighed on the Consumer Discretionary sector: Tesla -3.37%, Aptiv -2.39%, Borg Warner -1.63%.
  • Leading gainers: Consumer Staples and Utilities outperformed, retail distribution names buoyed the former: Walmart +4.0% after beating earnings estimates this morning - but tempered by announcement to buyTV maker Vizio for $2.3B, Kroger +1.43%, Dollar Tree +1.39%. Multi energy providers supported the Utilities sector: Pinnacle West +2.03%, Southern Co +1.67%.
  • Looking ahead: corporate earnings on tap after the close: Caesars Entertainment, Diamondback Energy, Costar, Teladoc, Palo Alto Networks and Chesapeake Energy.

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