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Equities Roundup: Oil & Gas, Semiconductor Stocks Outperforming

US STOCKS
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  • Stocks hold moderate gains ahead midday, adding to Friday's post-jobs data rally. While "sticky" inflation remains a risk factor for tighter policy, the hiring slow down provides a tail wind for stocks as markets continue to price in nearly two 25bp rate cuts by year end. Currently, DJIA is up 55.8 points (0.14%) at 38733.59, S&P E-Minis up 29.75 points (0.58%) at 5184.5, Nasdaq up 119.5 points (0.7%) at 16275.24.
  • Leading gainers: Energy and Information Technology sectors outperformed in the first half, the former rebounding with crude prices (WTI+0.56 at 78.67): APA Corp +2.65%, Conoco-Phillips +2.05%, Marathon Oil +1.99%. Chip stocks continued to buoy the IT sector: Micron +4.59%, Advanced Micro Devices +3.59%, Nvidia +3.34%.
  • Laggers: Consumer Staples and Real Estate sectors underperformed in the first half, Personal products shares weighed on Staples: carry-over selling for Estee Lauder -1.35%, Kenvue -0.76%, Kimberly-Clark -0.73%. Meanwhile, investment trusts weighed on the latter, particularly specialized and industrial REITS: American Tower -2.11%, Crown Castle -1.98%, Prologis -1.42%.
  • While the latest earning cycle is winding down, there are a few larger names to announce: After Monday's close: Spirit Airlines, Tyson Foods, JELD-WEN, Realty Income, Williams Cos, Primerica, Simon Property Goodyear Tire, Vertex, Microchip Technology. Early Tuesday: Rockwell Automation, Duke Energy.
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  • Stocks hold moderate gains ahead midday, adding to Friday's post-jobs data rally. While "sticky" inflation remains a risk factor for tighter policy, the hiring slow down provides a tail wind for stocks as markets continue to price in nearly two 25bp rate cuts by year end. Currently, DJIA is up 55.8 points (0.14%) at 38733.59, S&P E-Minis up 29.75 points (0.58%) at 5184.5, Nasdaq up 119.5 points (0.7%) at 16275.24.
  • Leading gainers: Energy and Information Technology sectors outperformed in the first half, the former rebounding with crude prices (WTI+0.56 at 78.67): APA Corp +2.65%, Conoco-Phillips +2.05%, Marathon Oil +1.99%. Chip stocks continued to buoy the IT sector: Micron +4.59%, Advanced Micro Devices +3.59%, Nvidia +3.34%.
  • Laggers: Consumer Staples and Real Estate sectors underperformed in the first half, Personal products shares weighed on Staples: carry-over selling for Estee Lauder -1.35%, Kenvue -0.76%, Kimberly-Clark -0.73%. Meanwhile, investment trusts weighed on the latter, particularly specialized and industrial REITS: American Tower -2.11%, Crown Castle -1.98%, Prologis -1.42%.
  • While the latest earning cycle is winding down, there are a few larger names to announce: After Monday's close: Spirit Airlines, Tyson Foods, JELD-WEN, Realty Income, Williams Cos, Primerica, Simon Property Goodyear Tire, Vertex, Microchip Technology. Early Tuesday: Rockwell Automation, Duke Energy.