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Late Equities Roundup: Late Recovery, Pharmaceuticals Leading

US STOCKS
  • Late buying sees stocks climbing off second half lows to near steady on the day in late Tuesday trade, Health Care and Communication Services outperforming. Currently, the DJIA trades down 31.02 points (-0.08%) at 40863.76, S&P E-Minis down 0.75 points (-0.01%) at 5628.5, Nasdaq down 13.7 points (-0.1%) at 17862.61.
  • Health Care and Communication Services sectors led gainers in the second half, pharmaceuticals outperforming: Eli Lilly +2.68%, Incyte +2.31%, Edwards Lifesciences +1.80%. Interactive media and entertainment buoyed the Communication Services sector: Take-Two Interactive +2.63% Netflix +1.61%, Google +1.03%.
  • On the flipside, Energy and Industrial sectors continued to underperform in late trade, oil and gas shares weighing on the former: Valero Energy -4.12%, Phillips66 -4.05%, Marathon Petroleum -3.48%.
  • A mix of construction, engineering and transportation stocks weighed on the Industrials sector: Boeing -4.04% (after the FAA issued safety warnings on 777x and 787 jets), Generac -1.39%, CH Robinson Worldwide -1.37%.
  • Late cycle corporate earnings expected this week: Toll Brothers after today's close; Analog Devices, Target Corp, Macy's Inc, TJX, Urban Outfitters, Agilent Technologies, Synopsys, Snowflake and Zoom Video Communications Wednesday; Peloton, Advance Auto Parts, Williams-Sonoma, Ross Stores and Intuit on Thursday; Dollar Tree and Veradigm Inc on Friday.

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