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Late Equities Roundup: Chemicals, Mining Stocks Outperforming

US STOCKS
  • Stocks remain mixed in late trade, DJIA firmer vs steady SPX Eminis. Currently, the DJIA is up 54.67 points (0.14%) at 38434.98, S&P E-Minis up 4 points (0.08%) at 4966, Nasdaq down 19 points (-0.1%) at 15578.75.
  • Leading gainers: Materials and Real Estate sector continued to outperform in late trade. Recovering from weaker Monday trade, chemicals and mining stocks buoyed the Materials sector in the first half: Dupont +7.47%, Albemarle +4.12%, Linde PLC +3.61%, Freeport-McMoRan +3.59%. Estate management shares supported the Real Estate sector in the first half: CoStar Group +1.49%, CBRE +0.44%.
  • Laggers: Information Technology and Communication Services underperformed in late trade, chip stocks paring Monday gains: AMD -3.98%, Micron --3.52%, Nvidia -2.41%. Meanwhile, telecom stocks displaced earlier lag in financial services shares. Verizon and ATT shares -1.0%, T-Mobile not far behind at -0.82%. On a side note, NY Community Bank fell an additional 12%, adding to -11% decline on Monday. KBW Nasdaq regional bank index traded near steady at 93.54.
  • Looking ahead: corporate earnings expected after the close: Chipolte, Fortinet, Cognizant Technologies, Snap Inc, Gilead Sciences, Carlisle, Enphase Energy, Amgen, Ford, Prudential Fncl.
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