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Equities Roundup: Stocks off 3M Lows, REITs, Transportation Led

US STOCKS
  • Stocks have rebounded after falling to the lowest levels since early May on the week opener. No particular headline driver, but a cautious continuation of buy interest following Monday's ISM services data that lessened concerns over an imminent economic recession.
  • Currently, the DJIA trades up 520.51 points (1.34%) at 39235.9, S&P E-Minis up 84.75 points (1.62%) at 5302.75, Nasdaq up 272.6 points (1.7%) at 16475.76.
  • Real Estate and Industrial sector shares led gainers in the first half, office and health care investment trust shares supporting the former: BXP Inc +4.33%, Alexandria Real Estate +3.13%, Welltower Inc +2.49%. Transportation stocks buoyed the Industrials sector: Uber +7.06% after announcing strong earnings this morning, CSX Corp +3.61%, Old Dominion +3.60%.
  • Utility and Consumer Discretionary sectors underperformed in the first half, multi-energy shares weighed on the former: Sempra -1.09%, CenterPoint Energy +0.31%, Dominion Energy +0.7%. Meanwhile, autos and parts suppliers weighed on the Consumer Discretionary sector: Tesla -1.64%, Borg Warner +0.22%, Fors +0.46%.
  • Expected earnings announcements after the close include the following: Illumina Inc, Devon Energy Corp, Fortinet Inc, Rivian Automotive, Astera Labs, Lumen Technologies, International Flavors, Reddit, Permian Resources, Wynn Resorts, Amgen Inc, Airbnb Inc and Super Micro Computer.

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