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Equity Roundup: Real Estate, Financials Underperforming


Stocks trade weaker in the second half, reversing early gains and back near late Monday highs amid ongoing concern over persistent inflation and hawkish Fed policy. Real Estate and Financials shares underperform. Currently, SPX eminis trade -36.75 (-0.98%) at 3695.5; DJIA -187.27 (-0.61%) at 30335.41; Nasdaq -129.2 (-1.2%) at 10643.57

  • SPX leading/lagging sectors: Laggers: Real Estate (-2.63%) weighed by Vornado (VND) -5.31%, Prologis (PLD) -4.16%, Boston Properties (BXP) -4.02%. Financials (-2.07%) next up with banks underperforming diversifieds and insurance names.
  • Leaders: Energy (+2.95) outperformed as crude levels firmed (WTI +3.12 at 95.94), Communication Services (-0.33% a distant second followed by Consumer Staples (-0.56%).
  • Dow Industrials Leaders/Laggers: Chevron (CVX) +5.58 at 168.30, Travelers (TRV) +4.80 and Procter Gamble (PG) +1.77 after beating earnings est: $1.57 vs. $1.547 est. Laggers: Home Depot (HD) -11.26 at273.80, United Health (UNH) -5.24 at 516.97; and Goldman Sachs (GS) -4.89 at 308.96.

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