Equity Roundup: Paring Fri's Gains

Major indexes trading weaker but off session lows ahead midday - scaling off last Fri's month highs ahead this wk's first FOMC policy annc for '23. As such, Communication Services, Information Technology and Consumer Discretionary, sectors that lead last wk's rally, lead Mon's weaker price action. SPX eminis currently trades -22.5 (-0.55%) at 4061.75; DJIA -43.73 (-0.13%) at 33932.02; Nasdaq -132 (-1.1%) at 11490.28.

• SPX leading/lagging sectors: Communication Services (-1.67%) weighed by interactive media and entertainment (Google -2.52%, META -2.42%). Next up, Information Technology (-1.29%) and Consumer Discretionary next up (-0.92%) the latter weighed by auto maker Tesla (-4.2%) after posting strong gains last wk, while GM (-2.69%) and F (-1.54%) reversed gains as well.
• Leaders: Consumer Staples (+0.50%) lead by food, beverage and tobacco makers, followed by modest gains in Utilities (+0.34%) and Materials (+0.16%).
• Dow Industrials Leaders/Laggers: Contributing to weaker IT sector, Microsoft (MSFT) trades -4.60 at 243.56, Chevron (CVX) -2.42 at 177.03, Boeing (BA) -2.33 at 208.84. Leaders: United Health (UNH) +6.70 at 492.75, Goldman Sachs (GS) +5.08at 358.78, American Express (AXP) +3.65 at 175.96.
• Reminder, earnings annc pick up in earnest early Tue w/: International Paper (IP), Pfizer (PFE), Philips 66 (PSX), Pulte Grp (PHM), McDonalds (MCD), Marathon Petroleum (MPC), Corning (GLW), Sysco (SYY), UPS, GM, Caterpillar (CAT), Exxon (XOM).