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Late Equities Roundup: Extending Lows

US STOCKS
  • Stocks remain weaker, extending lows after the bell. Broad based risk-off followed this morning's hot January CPI data, stocks and rates sold off as hopes of rate cuts this year withered. Currently, the DJIA is down 721 points (-1.86%) at 38075.55, S&P E-Minis down 99.25 points (-1.97%) at 4942.25, Nasdaq down 373.5 points (-2.3%) at 15569.42.
  • Laggers: Real Estate and Consumer Discretionary sectors underperformed in the second half, estate management shares weighed on the former: CBRE Group -4.37%, CoStar Group -2.22%. Broad based weakness in Durables saw Marriott Int -6.41%, Aptiv -6.02%, Etsy and VF Corp -6.0%.
  • Meanwhile, Health Care and Consumer Staples sectors resisted the selloff the most, equipment and services companies buoyed the former: McKesson +1.78% Cardinal Health +0.1%, Cencora +0.07%. Household and personal products names weighed on Consumer Staples the least: Clorox -0.74%, Procter & Gamble -0.91%, Church & Dwight -1.21%.
  • Looking ahead: corporate earnings expected after the close: Welltower Inc, Robinhood Markets, GoDaddy Inc, AIG, Airbnb, MGM Resorts, Zillow, Lyft, Topgolf Callaway.

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