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Equity Roundup: Loosely Tracking Crude; Ongoing Twitter/Musk Row

US STOCKS
Stocks trading mildly weaker early in second half, well off post-data lows. Stocks continue to appear to be tracking moves in Crude, posting gains as WTI crude bounced from 102.5 to over 105.0 briefly, stocks weaker as WTI trims gains.
  • SPX eminis currently trading -13.75 (-0.35%) at 3891.75; DJIA -49.71 (-0.16%) at 31334.59; Nasdaq -64.2 (-0.6%) at 11557.17.
  • Technicals: S&P E-Minis traded higher again Thursday and price remains above recent lows. The outlook is bearish though following the reversal from 3950.00, the Jun 28 high. The next support lies at 3735.00, the Jun 23 low.
  • A breach of this level would expose key support at 3639.00, the Jun 17 low. On the upside, clearance of resistance at 3950.00 is required to reinstate a bullish theme. This would open the 50-day EMA, currently at 3988.53.
  • SPX leading/lagging sectors: Health Care +.68%, Consumer Staples (-0.19%) and Utilities (-0.33%). Laggers: Materials (-0.99%), Communication Services (-0.86%) Information Technology (-0.78%). Headline on latter: TWITTER FALLS 3% AT OPEN AFTER REPORT MUSK DEAL IN JEOPARDY: spurred by claims over the true amount of spam/bot accounts and efforts to delete them.
  • Dow Industrials Leaders/Laggers: United Health (UNH) +9.94 at 524.32, Amgen (AMGN) +2.27 at 249.69, Johnson & Johnson (JNJ) +.89 at 179.39. Laggers: Salesforce.com (CRM) -2.57 at 174.07, Microsoft (MSFT) -2.06 at 266.34, Goldman Sachs (-1.96) at 296.64.
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