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Late Equities Roundup: Chip Stocks, REITS Weighing

US STOCKS
  • Stocks held moderately mixed levels in late trade, DJIA shares still outperformed weaker S&P and Nasdaq shares on a generally quiet session ahead Thursday's PPI and Retail Sales data. Currently, S&P E-Minis trades down 5.5 points (-0.1%) at 5235.75, Nasdaq down 58.3 points (-0.4%) at 16207.99, DJIA up 50.09 points (0.13%) at 39056.62.
  • Laggers: Information Technology and Real Estate sectors underperformed in the second half. Chip stocks reversed prior session gains with Enphase -3.4%, Intel and Advanced Micro Devices -3.25%, Micron -3.08%. Real Estate investment trusts traded weaker late, particularly specialized and industrial REITS: Equinix -2.41%, Extra Space Storage -1.33%, Realty Income Corp -1.27%.
  • Leading gainers: Energy and Materials sectors continued to outperform in late trade, oil and gas shares buoyed the Energy sector as crude prices rallied (WTI +2.32 at 79.88): Valero +5.82%, Marathon Petroleum +4.22%, APA +4.02%. Metals and mining stocks supported the Materials sector as gold also rebounded from Tuesday's sell-off (+13.50 at 2171.84): Freeport-McMoRan +8.23%, Steel Dynamics +2.19% Newmont +1.59%.

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