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Equity Roundup: EU Headline Bid Reverses, Banks Weaker

US STOCKS

Major indexes trading mixed at midmorning, off early session lows w/Dow shares underperforming. Risk-on move following Bbg story: "ECB Starts to Ponder Slower Hikes After Half Point in February" w/stocks bouncing to new session highs, ESH3 +16.0 at 4034.25 (res 1 4043.0 Dec 15 high). Back under pressure last few minutes, SPX eminis currently trades -6.75 (-0.17%) at 4012.25; DJIA -336.08 (-0.98%) at 33972.03; Nasdaq -336.08 (-0.98%) at 33972.03.

  • SPX leading/lagging sectors: Real Estate (+0.53%), Energy (+0.40%) and Consumer Staples (+0.38%) currently outperforming, hotel and resort REITs leading the former. Laggers: Communication Services (-1.09%) with telecoms lagging (LUMN -3.56%, VZ -1.48%). Next up: Materials (-0.84%) and Financials (-0.68%) w/Banks weighing (BAC -2.7%, JPM -2.6%) following mixed earning for GS and MS.
  • Dow Industrials Leaders/Laggers: McDonalds (MCD) +3.88 at 272.77, Chevron (CVX) +2.35 at 179.91, Home Depot (HD) +1.23 at 332.44. Laggers: Goldman Sachs (GS) hammered -23.0 to 351.00, Travelers (TRV) -9.74 at 184.18, Boeing (BA) -5.01 at 209.12.

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