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Equities Roundup: S&P Eminis Near All-Time Highs

US STOCKS
  • Stocks are mildly higher, S&P eminis just off all-time high of 4841.50 tapped overnight, led by Utility and Health Care stocks ahead midday. At the moment: S&P E-Mini future are up 1.75 points (0.04%) at 4835.5, Nasdaq up 39.9 points (0.3%) at 15139.19, DJIA up 55.36 points (0.15%) at 37711.37.
  • Leading gainers: Independent power and renewable energy shares buoyed the Utility sector: Dominion +1.08%, AES Corp +0.84%, NRG Energy +1.05%. Meanwhile, equipment and servicing shares supported Health Care sector: Align Tech +1.22%Dexcom +1.06%, Humana +1.0%.
  • Laggers: Energy and Materials sectors underperformed in the first half, equipment and services shares pared gains from the prior session: Haliburton -0.82%, Baker Hughes -0.72%, Schlumberger -0.55%. Metals and mining shares weighed on the Materials sector: Nucor -0.85%, Steel Dynamics -0.73%, Newmont -0.4%.
  • Technicals: A bullish theme in S&P e-minis remains intact and this week’s fresh trend highs reinforce current conditions. The move higher confirms once again a resumption of the uptrend that started Oct 27. The contract has also recently cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. Sights are on 4854.75 next, a Fibonacci projection. On the downside, initial firm support lies at 4726.28, the 20-day EMA.

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