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Equities Roundup: Real Estate, Industrials Outperform

US STOCKS
  • Stocks are trading modestly higher after the bell, near early session highs ahead this afternoon's FOMC policy annc. Currently, S&P E-Mini futures are up 11.75 points (0.26%) at 4483, Nasdaq up 8.8 points (0.1%) at 13652.59, DJIA up 159.6 points (0.46%) at 34460.61.
  • Leaders: Real Estate, Industrials and Utilities outperformed after the open, property management names buoyed the former in early trade: CoStar Group +1.9%, CBRE Group +1.55%.
  • Machinery makers buoyed Industrials: Deere +2.38% following Tue's downgrade, Caterpillar +2.05%, PACCAR Inc +1.85%. Notable aerospace/defense gain by Textron Inc +5.2% after announcing sale of up to 1,500 Citation aircraft to NetJets. Meanwhile, multi-energy names supported Utilities: Xcel Energy +1.15%, Sempra +0.9%, NRG Energy +0.8%.
  • Laggers: Communication Services and Information Technology sectors underperformed with interactive media weighing on the former: Google -0.25%, META -0.55%.
  • IT traded weaker again with hardware and semiconductor shares trading weaker: Zebra Tech -4.75%Intel -2.75%, Apple -1.0%. On the flipside, Western Digital gained 5.15% on headline Kioxia merger $13.5B refinance loan as well as upgrade from BNP Paribas.

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