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Equities Roundup: Trio of New Index Highs, Ignoring Mixed Data

US STOCKS
  • US major averages climbed to record highs Thursday, looking past this morning's mixed data: higher than expected weekly claims and import/export prices, disappointing housing starts and building permits and soft industrial production.
  • Adding to yesterday's post-CPI/Retail Sales rally, the S&P Eminis tapped 5349.0 ahead midday, the Dow breaching 40,000 for the first time to 40,048.11, while the Nasdaq marked a new all-time high of 16,796.95. Currently, the DJIA is up 81.07 points (0.2%) at 40002.34, S&P E-Minis up 4 points (0.08%) at 5339, Nasdaq up 9 points (0.1%) at 16763.37.
  • Consumer Staples and Real Estate sectors led gainers led gainers in the first half, big box retailers buoyed the former with Walmart gaining over 6% after sales rose 3.8%, Dollar General +3.49%, Target +2.94%, Costco +2%. Estate management and Investment trusts buoyed the latter for the third consecutive session: American Tower +2.05%, SBA Comm +1.84%, Prologis +1.58%.
  • Laggers: Materials and Industrials sectors underperformed in early trade, Martin Marietta Materials -4.73%, Vulcan Materials -3.30%, Freeport McMoRan -1.79%. Meanwhile, the Industrials sector weighed by United Rentals -3.36%, Deere -2.85% after cutting it's full-year earnings outlook, Trane -2.04%.
  • Meme stocks in the headlights: GameStop -23% and AMC Entertainment -11.5%.

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