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Equity Roundup: Communication Services and IT Outperforming

US STOCKS

Stock indexes trading narrowly mixed, Nasdaq outperforming weaker Dow Industrials, SPX near steady. That said, S&P E-Minis remain in an uptrend. Price is trading below 4050.75, the Nov 15 high and the bull trigger. Clearance of this hurdle would confirm a resumption of the uptrend and mark an extension of the price sequence of higher highs and higher lows.

  • SPX eminis currently trade -2.5 (-0.06%) at 3959.75; DJIA -159.21 (-0.47%) at 33693.5; Nasdaq +37.3 (0.3%) at 11021.18.
  • SPX leading/lagging sectors: Communication Services (+0.77%) and Information Technology (+0.47%) outperforming - interactive media supporting the former w/ Netflix +2.96%, Meta off highs still up +2.26%. IT sector lead by software application names: Intuit +3.14%. Laggers: Financials (-1.01%, Industrials (-0.61%) and Real Estate (-0.56%), bank stocks weighing on the former: M&T, Truist and Key Bank down between -2.2-2.4% at midday.
  • Dow Industrials Leaders/Laggers: United Health (UNH) +1.69 at 529.69, Microsoft (MSFT) +1.53 at 241.86, Apple (AAPL) +0.81 at 141.95. Laggers: Goldman Sachs (GS) -5.38 at 378.33, MMM -3.19 at 122.94, Home Depot (HD) -2.54 at 313.42.

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