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Equities Update: Mildly Weaker Ahead Weekend

US STOCKS
  • Stocks trade mildly weaker ahead midday after climbing to new 2-week highs overnight, resilient after this morning's weaker house start/build permit and modest uptick in UofM inflation expectations.
  • Currently, the DJIA trades down 9.99 points (-0.02%) at 40554.34, S&P E-Minis down 3.5 points (-0.06%) at 5564.75, Nasdaq down 3.4 points (0%) at 17592.06.
  • Rebounding from Thursday selling, Utility and Financial sector shares outperformed in the first half. Electricity and multi-energy shares buoyed the former: Xcel Energy +1.54%, CMS Energy +1.27%, Dominion Energy +1.18%. Financial services shares made modest gains: Discover Financial +1.53%, Aflac and Capital One +1.16%, Assurant +1.07%.
  • Conversely, Industrials and Information Technology sectors underperformed in the first half, GE Vernova -3.03%, Eaton Corp -2.83%, United Airlines -2.70% weighed on Industrials.
  • Meanwhile, semiconductor and software makers pared gains after outperforming the last few sessions: Applied Materials -3.44%, Palo Alto Networks -2.81%, KLA Corp -2.62%.

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