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Equity Roundup: Off Lows Ahead Midday, NASDAQ Higher

US STOCKS
Stock indexes weaker but moving off lows ahead midday, this after SPX eminis climbed to the highest levels since Feb 10 overnight (4514.00) after breaching round number resistance late Tue.
  • Follow through bid stalled earlier as focus turns from hawkish Fed speak to Geopol-risk ahead Pres Biden NATO address Thu. Currently, SPX emini -18.25 (-0.41%) at 4486.75. Next key resistance at 4514.75 (High Mar 22) followed by 4578.50 (High Feb 9). On the flipside, Initial support is at 4352.15, the 20-day EMA.
  • Dow trades -264.43 (-0.76%) at 34542.47, and Nasdaq bouncing +13.6 (0.1%) at 14121.86.
  • SPX leading/lagging sectors: Strong support for Energy sector (+2.13%) w/ crude climbing again: WTI +$5.64 at $114.94. Top 10 oil stocks gaining over 2%, Valero Energy (VLO) +3.12% at 96.51.
    • Consumer Discretionary a distant second (+.24%) with strong Auto sector (+3.27%) tempering weaker Consumer Durables (-.11%), Retailing (-0.51%) and Consumer Services (-1.04%).
    • Laggers: Health Care (-1.1%) dragged down by equipment mfgs (-1.74%), pharmaceuticals (-.64%).
  • Dow Industrials Leaders/Laggers: Tech shares strong, Apple (AAPL) gaining 2.47 at 171.29; Chevron (CVX) +2.05 to 166.14 on higher crude.
    • Laggers: Home Depot (HD) continues to sell off -10.25 at 319.48.

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