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Late Equities Roundup: Narrow Lower Range Ahead Data Risk, Month End

US STOCKS
  • Stocks remain weaker, inside the session range in late Wednesday trade, cautious trade ahead Thursday's PCE data risk and month end positioning. DJIA down 136.51 points (-0.35%) at 38835.96, S&P E-Minis down 15.5 points (-0.3%) at 5074.75, Nasdaq down 93.5 points (-0.6%) at 15942.25.
  • Laggers: Communication Services and Health Care sectors continue to underperform in late trade, interactive media and entertainment weighing on the former: Google -2.23%, Interpublic Group -2.21%, Match -1.77%. Equipment and services shares weighed on the Health Care sector: United Health -4.93% amid reports the Justice Dept has initiated an antitrust investigation in the company late Tuesday. Meanwhile, ResMed trades -4.17%, Align Technology -3.14%.
  • Leading Gainers: Real Estate and Consumer Discretionary sectors lead gainers in late trade, hotel and specialized investment trusts supporting the former: Digital Realty +3.53%, Weyerhaeuser +3.4% while Host Hotels gained +1.93%. Meanwhile auto makers buoyed the Consumer Discretionary sector: Ford +3.08% and GM +1.94% outpacing Tesla for once, the latter +1.56%.
  • Looking ahead: corporate earnings after the close include: Paramount Global, Salesforce, HP Inc, AMC Entertainment, Jazz Pharmaceuticals and Monster Beverage.

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