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Late Equities Roundup: Back Under Pressure

US STOCKS
  • Off early session lows, US stocks remain broadly weaker after paring losses into midday. After S&P Eminis falling as much as 4.75% vs. Friday's settlement early Monday, Nasdaq -6.35%, DJIA -3.0%, indexes bounced after higher than expected ISM services data cooled recession concerns somewhat.
  • Currently, the DJIA trades down 1099.05 points (-2.77%) at 38639.86, S&P E-Minis down 174.75 points (-3.25%) at 5202, Nasdaq down 653.3 points (-3.9%) at 16125.63.
  • Information Technology and Consumer Discretionary sectors continued to underperform in late trade, semiconductor and hardware shares weighing on the former with Intel -7.22%, Nvidia -7.00%, Apple -6.38%. Broadline retailers and auto related stocks weighed on the Consumer Discretionary sector: Bath & Body Works -6.11%, Etsy -5.91%, Tesla -5.24%.
  • Conversely, Energy and Industrial sector shares outperformed, oil & gas shares declining the least: Marathon Oil -0.64%, Valero -0.72%, ConocoPhillips -0.80%. Meanwhile, Industrials saw AMETEK +1.56%, Generac +0.43%, Lockheed Martin -0.33%.
  • Earnings announcement resume late Monday, include the following: Carlyle Group, Diamondback Energy, Realty Income Corp, CSX Corp, Lucid Group Inc, Simon Property Group, ZoomInfo Technologies, Spirit AeroSystems, Definitive Healthcare, Williams Cos, Hims & Hers Health Inc, Palantir Technologies and Crescent Energy.

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