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Equities Roundup: Paring Early Gains

US STOCKS
  • Stocks are mixed in late morning trade, off early, pre-data highs with Dow stocks outperforming. Currently, S&P E-Mini futures are down 15.25 points (-0.35%) at 4365.75, Nasdaq down 106.8 points (-0.8%) at 13468.1, DJIA up 9.64 points (0.03%) at 33640.43.
  • Laggers: Communication Services, Consumer Discretionary and Information Technology sectors underperformed, media and entertainment shares weighing on the former in early trade: Match Group -2.97%, Live Nation -2.09%, Netflix -1.82%.
  • Autos weighed on Discretionary sector amid renewed threat of union worker strikes: GM -1.22%, Ford -.95%, Aptiv -0.78%. Semiconductor shares weighed on the IT sector: NXP -2.48%, Advanced Micro Devices and Qorvo both -1.55%.
  • Leaders: Energy, Utilities and Financial sectors outperformed in the first half, oil and gas shares buoyed the former as crude prices surged higher on Middle East concerns (WTI +3.11 at 86.02): Marathon +3.81%, EOG Resources +3.26%, APA +3.16%.
  • Independent power and electricity providers supported the Utilities sector: NextEra +3.46%, Xcel Energy +1.7%. Meanwhile, banks buoyed Financials after JP Morgan, PNC Financial, Blackrock, Wells Fargo and Citigroup all beat Q4 earnings expectations this morning: Wells +3.93%, JPM +3.1%, Citi +2.53%.
  • Banks announcing early next week: Next Monday: Charles Schwab; Tuesday: Bank of NY Mellon, Bank of America, Goldman Sachs.

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