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Equities Roundup: S&P Eminis Testing Contract Highs

US STOCKS
  • Stocks have drifted off early Friday lows, trading mildly higher ahead midday with S&P Eminis poised to overtake Wednesday's contract high of 4933.25. Currently, S&P E-Mini futures are up 3.5 points (0.07%) at 4926.5, Nasdaq up 3.4 points (0%) at 15514.33, DJIA up 86.72 points (0.23%) at 38134.42.
  • Leading gainers: Recovering from Thursday selling, Consumer Discretionary and Health Care sectors outperformed in the first half. Auto and parts makers buoyed the Discretionary sector: Tesla up +1.42% after falling over -12% yesterday on dour sales guidance and several downgrades. Meanwhile, Borg-Warner +2.43%, Aptiv +1.96%, Ford +1.2%. Biotechs and pharmaceuticals buoyed the Health Care sector: Bio0Rad +6.12%, Danaher +5.09%, Charles River Labs +4.7%.
  • Laggers: Information Technology and Real Estate sectors underperformed early Friday, chip stocks weighing on the former after seeing strong gains as a whole this week. Leading laggers: Intel trading -11% after disappointing outlook late Thursday, followed by several downgrades. Elsewhere, KLA Corp -4.64$, Applied Materials -1.95%. Real Estate sector weighed by specialized and retail investment trusts: Weyerhaeuser -1.53%, SBA Comm -1.27%, Realty Income Grp -0.4%.
  • Looking ahead: flood of earnings announcements next week: Nucor Corp, Corning, Pfizer, UPS, GM, MSFT, Alphabet, Starbucks, Boeing, Boston Scientific. Mastercard, MetLife and Meta by Wednesday.

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