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Equities Roundup: Off Lows, Real Estate/Financial Services Outperform

US STOCKS
  • Stocks are gradually paring losses, extending the top end of the range in late morning trade: DJIA down 61.96 points (-0.16%) at 38907.58, S&P E-Minis down 4.25 points,(-0.08%) at 5085.75, Nasdaq down 43.2 points (-0.3%) at 15991.97.
  • Leading Gainers: Real Estate and Financial sectors lead gainers in the first half, estate management companies supporting the former: CoStar Group +1.02%, CBRE Group +0.3%. Banks and financial services shares buoyed the latter: BlackRock +1.03%, MSCI and PNC Financial both +0.95% while Charles Schwab gained 0.89%.
  • Laggers: Communication Services and Health Care sectors underperformed in the first half, interactive media and entertainment weighing on the former: Match -2.14%, Google -1.94%, Meta -0.46%. Equipment and services shares weighed on the Health Care sector: United Health -5.11% amid reports the Justice Dept has initiated an antitrust investigation in the company late Tuesday. Meanwhile Henry Schein trades -3.39%, Align Technology -2.89%.
  • Looking ahead: corporate earnings after the close include: Paramount Global, Salesforce, HP Inc, AMC Entertainment, Jazz Pharmaceuticals and Monster Beverage.

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