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Late Equities Roundup: Chip Stocks, Oil & Gas Outperform

US STOCKS
  • After several rounds of see-sawing in a progressively narrow range, stocks are looking near steady to mixed in late trade, the Dow still underperforming. Currently, the DJIA trades down 182.29 points (-0.46%) at 39313.5, S&P E-Minis down 5.25 points (-0.1%) at 5364.75, Nasdaq up 26.1 points (0.2%) at 16771.39.
  • Information Technology and Energy sectors continued to lead gainers in late trade, semiconductor stocks buoyed the former: Super Micro +6.09%, Nvidia +4.61%, First Solar +2.86%. Oil and gas stocks gained on the back of rising crude prices Monday (WTI +2.82 at 79.66) -- likely driven by the ongoing geopolitical risk in the Middle East: EQT Corp +3.60%, APA +3.11%, Marathon +1.94%.
  • Conversely, Real Estate and Industrials sectors continued to underperform, investment trusts weighing on the former: Simon Property Group -3.91%, BXP Inc -2.51%, CoStar Group -2.52%. Airlines weighed on the Industrials sector amid declining travel data, American Airlines -2.43%, Boeing -2.25%.
  • While the latest earnings cycle is over 85% complete, there are still a number of announcements expected this week: Home Depot early Tuesday; Brinker Int, Samsonite and Cisco late Wednesday; Walmart, Applied Materials and Deere & Co on Thursday.

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