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Equity Roundup: O&G Shares Weigh on Energy Sector; Earnings Next Wk


Stocks trading weaker, looking to extend early session lows in the last few minutes, Energy sector shares underperforming w/ crude prices lower (WTI -2.05 at 76.44). SPX eminis currently trading -35.75 (-0.87%) at 4064.25; DJIA -67.71 (-0.2%) at 33629; Nasdaq -151.8 (-1.3%) at 11703.71.

  • SPX leading/lagging sectors: Energy sector (-3.27%) underperforming as wide swath of O&G exploration, production, refining and shipping names trade weaker (EOG -4.64%, DVN -4.49%, HES -4.29%, FANG -4.21%, PSX -3.96%) as markets continue to reshuffle impact of Russia oil sanctions. Information Technology (-1.7%) sector next in line as chip stocks remain soft (NVDA -3.7, SWKS -2.69%, SEDG -2.6%, AMD -2.32%).
  • Leaders: Utilities (+0.72%Z) supported by lone of US' largest LNG provider Atmos Energy (ATO +1.28%). Consumer Staples (+0.46%) and Health Care (+0.3%) next up, the latter supported by bio-tech and pharmaceuticals (BIO +5.29%, AMGN +2.72%, BIIB +1.70%).
  • Dow Industrials Leaders/Laggers: United Health (UNH) +6.82 at 494.17, Amgen (AMGN) +6.30 at 240.52, Travelers (TRV) +2.13 at 185.19. Laggers: Home Depot (HD) -6.68 at 314.56,Microsoft (MSFT) -5.37 at 256.78, Salesforce (CRM) -4.15 at 163.96.
  • Earnings resume next week, latest cycle should be winding down shortly. Some notable stocks announcing: WMB ($0.48 est), LPX ($0.55 est), HD ($3.27 est), WMT ($1.52 est), FANG ($5.23 est), PSA ($3.97 est), PXD ($5.87 est).

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