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Equity Roundup: Covid Headline Drivers

US STOCKS
Major indexes have recovered from midweek selling, back near early Tuesday levels w/ Covid-related headlines apparently the main drivers for the week:
  • Early week risk-on support for stocks after China said it will end quarantine requirements for inbound travelers in early January. Optimism over China reopening faded Wed as curbs spurred further selling as several countries, including US, annc negative antigen test required for entry.
  • Latest upswing in sentiment: testing has not revealed new variants while "European health officials called screenings and restrictions on travelers from China unjustified" Bbg.
  • SPX eminis currently trade +59.25 (1.56%) at 3867.25; DJIA +309.72 (0.94%) at 33191.05; Nasdaq +248.1 (2.4%) at 10460.23.
  • SPX leading/lagging sectors: Communication Services (+2.60%), Information Technology (+2.49%) and Consumer Discretionary (+2.40%) lead the rally, auto makers surging w/ Tesl +7.91% after drawing heavy selling this week. Laggers: Energy (+0.51%), Consumer Staples (+0.59%) Utilities (+0.84%).
  • Dow Industrials Leaders/Laggers: Home Depot (HD) +5.16 at 320.89, Microsoft (MSFT) +5.27 at 239.80, Disney (DIS) +3.57 at 87.74. Laggers: Caterpillar (CAT) -0.76 at 238.62, Boeing (BA) -0.10 at 188.28, Merck (MRK) +0.04 at 111.12.

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