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Equity Roundup: Near Best Levels Since Mid-Dec'22

US STOCKS

Major indexes continue to extend gains over last few minutes, eminis nearing last Wed's best levels since mid-December. Carry-over bid from Fri for Information Technology (general support following headlines of large, ongoing layoffs) and Communication Services and sectors. SPX eminis currently trades +34.5 (0.87%) at 4022.25; DJIA +203.43 (0.61%) at 33576.53; Nasdaq +149.9 (1.3%) at 11289.96.

  • SPX leading/lagging sectors: Information Technology (+1.59%) outperforming, lead by semiconductor makers (AMD +7.59%, QCOM +4.57$, Micron +4.16%, Nvidia +4.09%). Communication Services (+1.2%) underpinned by interactive media and entertainment names: Netflix (NFLX) up another +3.1% after reporting huge subscriber addition in 4th quarter last wk (+7.66 million vs. 4.57 million est), TTWO +2.12, Warner Bros +1.73%.
  • Laggers: Materials (-0.38%), Real Estate (-0.10%) and Utilities (+0.16%) sectors underperformed, metals and mining names weighing on the former: Freeport McMoran (FCX) -2.0%, Newmont Mining (NEM) -1.63%, specialized REITs weighing on Real Estate.
  • Dow Industrials Leaders/Laggers: Salesforce (CRM) +4.88 at 156.13, Apple (AAPL) +2.55 at 140.42, Microsoft (MSFT) +1.80 to 242.02 after annc plan to lay off 10,000 employees last wk. Laggers: Visza (V) -0.32 at 223.99, PG -0.20 at 142.7, Verizon (VZ) +0.06 at 40.06.

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