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Late Equities Roundup: Extending Highs, Utilities Displace IT Shares

US STOCKS
  • Stocks gradually extending highs in late Monday trade, S&P eminis closing in on last Wednesday's high of 4830.75, Energy and Utility sectors outperforming. At the moment: DJIA trades up 178.79 points (0.48%) at 37565, S&P E-Mini futures up 20.25 points (0.42%) at 4826, Nasdaq up 78.1 points (0.5%) at 15071.66.
  • Leading gainers: Energy and Utility sector shares, the latter outpacing Information Technology stocks in the second half. Equipment and services shares continue to support the Energy sector: Baker Hughes +1.96%, Schlumberger and Haliburton both +1.67%. Independent power stocks buoyed the Utility sector: Edison Int +3.01%, Constellation Energy +2.06%, NRG Energy +1.95%.
  • Incidentally, semiconductor stocks still buoyed IT: Intel +4.78%, Monolithic Power +3.31%, AMD +2.27%, while shares of Apple continued to recede after ITC supports ban of Apple watch ban.
  • Laggers: Communication Services and Health Care stocks led laggers in late trade, media and entertainment weighing on the former: Take Two -0.32%, Electronic Arts -0.26%, Comcast -0.15%. Pharmaceutical and biotech shares weighing on the former: Bristol-Myers Squibb -1.53% after announcing $4.1B to purchase radiopharmaceutical therapeutics company RayzeBio (RYZB) earlier in the day.

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