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Equity Roundup: Through Key Support, Comm Services, IT Weighing

US STOCKS

Stocks continue to extend session lows, after Tue's shooting star formation candle patter, e-mini S&P march futures currently through 50-day EMA (3960.81) and Dec-7 low (3945.75) key support to 3918.50 low. Puts focus on next support of 3782.75 Nov 9 low. SPX eminis currently trade -99.5 (-2.47%) at 3930.25; DJIA -769.11 (-2.26%) at 33187.51; Nasdaq -317.6 (-2.8%) at 10849.33.

  • SPX leading/lagging sectors: Communication Services (-3.54%) underperforming with Netflix (NFLX) -8.14% following 4Q financial results show ad target miss, Warner Bros/Discovery (WBD) -6.6%, Paramount (PARA) -5.79, META -5.04%. Information Technology next up (-3.41%) w/ hardware, software and semiconductor makers evenly underperforming. Leaders: Real Estate (-1.06%), Utilities (-1.16%) and Energy (-1.27%), latter partially tied to drop in crude on the day.
  • Dow Industrials Leaders/Laggers: Goldman Sach (GS) -11.06 at 349.32, United Health (UNH) -10.34 at 528.02, Microsoft (MSFT) -8.38 at 248.84. Leaders: Verizon (VZ) +0.43 at 37.88, Intel (INTC) -0.980 at 27.36, Walgreens-Boots (WBA) -1.06 at 39.57.

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