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Equity Roundup: Consumer Staples Health Care Gains, Amgen Surges

US STOCKS

Stock indexes trading firmer, near recent session highs, lead by stronger Consumer Staples and Health Care shares. Currently, SPX eminis trade +15 (0.41%) at 3636; DJIA +340.47 (1.17%) at 29503.17; Nasdaq +9.5 (0.1%) at 10548.7.

  • Of note: Q3 equity earnings kicks off with PepsiCo (PEP) tomorrow before the open, Walgreens Boots (WBA), Dominos (DPZ), Progressive (PGR), Delta (DAL) and Blackrock (BLK) early Wednesday.
  • SPX leading/lagging sectors: Consumer Staples (+1.54%) lead by food and staples retailers outperforming beverage and tobacco stocks; Health Care (+1.44%) with pharmaceuticals, biotech, equipment and services near evenly pared. Laggers: Continued weakness in Information Technology (-0.33%) as semiconductor makers feel pressure from Pres Biden's new export measures to China (ON Semiconductor -7.62%). Ironically, Micron (MU) gaining +5.22%, Western Digital (WDC) +3.89%. Communication Services (-0.18% and Financials (+0.11%) sectors follow.
  • Dow Industrials Leaders/Laggers: Amgen (AMGN) surges +14.50 to 246.65 following upgrade to overweight by MS, positive weight-loss drug results. United Health (UNH) +6.75 at 505.61, Walmart (WMT) +3.65 at 132.97.Laggers: Salesforce Inc (CRM) -1.17 at 144.47, Visa (V) -1.09at 181.09, Microsoft (MSFT) -0.89 at 228.36.

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