Equity Roundup: Back to Mid-June Lows, Cons Disc, Financials Weighing

Stock indexes trading modestly weaker after midday -- adding to the week's sell-off back to mid-June levels, Consumer Discretionary and Financial shares underperforming. Currently, SPX eminis trade -25.25 (-0.66%) at 3780.25; DJIA -31.87 (-0.11%) at 30147.97; Nasdaq -148.6 (-1.3%) at 11070.01.

• SPX have cleared recent lows to confirm a resumption of the bear cycle that started mid-August. The break lower strengthens bearish conditions and paves the way for a move towards 3741.75, the Jul 14 low. The key support at 3657.00, Jun 17 low, has also been exposed. On the upside, initial firm resistance has been defined at 3936.25, the Sep 20 high.
• SPX leading/lagging sectors: Health Care shares outperformed Thu (+0.65%) lead by pharmaceuticals and biotech, Energy a close second (+0.64%) followed by Communication Services (+0.39%) w/ diversified telecom shares outperforming. Laggers: Consumer Discretionary (-2.04%) with autos and consumer services underperforming. Financials next up (-1.30%), headlines Credit Suisse exploring US mkt exit later denied.
  
• Dow Industrials Leaders/Laggers: United Health (UNH) +4.85 at 516.93, Amgen (AMGN) +3.51 at 227.97, Merck (MRK) +3.32 at 87.85. Laggers: Goldman Sachs (GS) -8.24 at 312.47, American Express (AXP) -5.86 at 142.85, Boeing (BA) -4.25 at 139.04.