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Equity Roundup: SPX Through Support, Chip Makers Strong

US STOCKS

Stocks trading weaker ahead midday, Communication Services and Consumer Discretionary sectors underperforming as SPX cross yesterday's low, focus on next support of 3962.47 3.0% 10-dma envelope. SPX eminis currently trading -17 (-0.43%) at 3981.75; DJIA -181.07 (-0.55%) at 32864.68; Nasdaq -50.5 (-0.4%) at 11456.4.

  • SPX leading/lagging sectors: Communication Services (-1.65%), Consumer Discretionary (-1.58%), auto makers weighing on the latter (GM -3.91%, Tesla -1.41%, F -1.56%).
  • Leaders: Energy (+0.48%) supported by equipment and services providers (SLB +1.32%, BKR +1.23%) and Information Technology (+0.37%) lead by strong chip-maker performance (NVDA +12.4%, AMD +2.45%, MU +1.32%).
  • Dow Industrials Leaders/Laggers: Merck (MRK) +0.96 at 110.12, Boeing (BA) +0.84 at 206.60, Chevron (CVX) +0.77 at 161.12. Laggers: McDonalds (MCD) -3.92 at 264.72, Walmart (WMT) -3.07 141.17, Honeywell (HON) -2.23at 193.15.
  • Equity earnings continue after the close: Autodesk (ADSK, $1.81 est), EOG Resources (EOG, $3.39 est), Booking Holdings (BKNG $21.51 est), Carvana (CVNA -$2.18), Intuit (INTU, $1.44),

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