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Equity Roundup: Apple Weighing on IT, Tesla on Consumer Discretionary

US STOCKS

Major indexes see-sawing lower again after bouncing on couple large buy-programs in the last half hour; Financials and Communication Service sectors outperforming. SPX eminis currently trade -28 (-0.73%) at 3833.25; DJIA -195.16 (-0.59%) at 32952.29; Nasdaq -101 (-1%) at 10366.33.

  • SPX leading/lagging sectors: After a firmer start to 2023 eminis pared gains in the first half, Energy (-1.22%) and Information Technology (-0.89%) underperforming. Shares of Apple (AAPL) -3.58% amid reports the company requesting fewer components from suppliers. Semiconductor shares pressed as well (NVDA -2.39%, MPWR -2.96%). Incidentally, autos weighed on Consumer Discretionary sector, most notably Tesla -10.0%.
  • Leaders: Communication Services (+0.93%), Financials (+0.80%) and Industrials (+0.01%), META (formerly Facebook) +3.34% helping the former.
  • Dow Industrials Leaders/Laggers: Boeing (BA) +6.31 at 196.80, Goldman Sachs (GS) +4.50 at 347.88, JPM +2.42 at 136.52. Laggers: United Health at (UNH) -13.09 at 517.09, McDonalds (MCD) -2.5, PG -1.54 at 150.02.

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