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Equity Roundup: Off Wk Highs, Twitter and Verizon Miss

US STOCKS

Climbing to week high of 4013.25 early Friday (highest lvl since June 10) SPX futures sold off after preliminary July reading of the SP Global mfg PMI of 52.3 vs. 52.0 exp (52.7 in June), service sector miss at 47.0 vs. 52.7 est (steady to June read). The week looked to finish w/ a risk-off tone as Tsys held broadly higher while SPX eminis trades -33.25 (-0.83%) at 3968; DJIA -98.13 (-0.31%) at 31938.3; Nasdaq -207.7 (-1.7%) at 11852.1.

  • Earnings wrap-up this morning: American Express (AXP) beat $2.57 vs. $2.389 est while Verizon (VZ) missed $1.31 vs. $1.327 est. as did Twitter (TWTR) with-$0.35 loss vs. $0.137 est.
  • Additional earnings reports: HCA Healthcare (HCA) $4.21 vs. $3.746 est, Schlumberger (SLB) $0.50 vs. $0.40 est, Roper Tech (ROP) $3.95 vs. $3.348 est, NextEra Energy (NEE) $0.81 vs. $0.759 est.
  • SPX leading/lagging sectors: Utilities (+1.24%), Consumer Staples (+0.95%), Real Estate (+0.85%). Laggers: Communication Services (-4.38%) -- surprisingly not lead by Twitter (-0.73%), but by Meta (-7.67%), Verizon (-7.51%) and Google (-5.82%).
  • Dow Industrials Leaders/Laggers: American Express (AXP) +3.12 at 153.30, Procter & Gamble (PG) +2.03, Home Depot (HD) +1.63 at 306.63. Laggers: Microsoft (MSFT) -4.82 at 260.02, Visa (V) -2.99 at 213.20 and Boeing (BA) -2.73 at 158.68

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