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Equities Roundup: Paring Gains, Taking Profits Ahead Data Risk

US STOCKS
  • Stocks trading mildly mixed in late morning trade, off early highs after a couple rounds of program selling, taking profits ahead Friday's headline employment data for November. At the moment, DJIA is up 16.91 points (0.05%) at 36144.23, S&P E-Mini future down 3.5 points (-0.08%) at 4571.75, Nasdaq down 9.4 points (-0.1%) at 14221.21.
  • Leading gainers: Utilities, Consumer Discretionary and Industrials sectors outperformed, water and multi-use shares supporting the former: Sempra +2.65$, Dominion Energy +2.16%, NiSource +0.84%. Auto-makers continued to support the Consumer Discretionary sector with Tesla +2.69%, GM +2.57% and Ford +2.31%. Meanwhile, machinery/construction stocks buoyed Industrials: Generac +2.66%, Stanley Black & Decker +2.63%, Masco +2.14%.
  • Laggers: Energy, Consumer Staples and Information Technology sectors underperformed, energy and equipment stocks traded weaker for the second consecutive session: Haliburton -2.53%, Schlumberger -1.97%, Baker Hughes -1.92%. Mixed performance in Consumer Staples: Brown Forman -9.23% on downbeat whiskey sales, while Campbell Soup gained 7.11%. Software and services shares weighed on IT: Oracle -1.42%, Cadence Design -1.18%, Fair Isaac -1.06%.
  • Despite the latest dip, a bullish theme in S&P e-minis remains intact with the contract is trading closer to its recent highs and so far, corrections have been shallow. Moving average studies are in a bull-mode position and this highlights positive market sentiment. A resumption of gains would signal scope for a climb towards 4690.75, the Aug 2 high. Initial support lies at 4568.75 intraday low, followed by 4442.65 50-day EMA.

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