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Late Equities Roundup: Off Lows, DJIA Outperforming

US STOCKS
  • Stocks are mostly weaker in late Thursday trade, off second half lows with the Dow outperforming. S&P Eminis and Nasdaq consolidated after climbing new all-time highs (5,707.75 and 18,661.46 respectively) after this morning's lower CPI data showed a decline in inflation metrics for June.
  • Currently, the DJIA is up 41.07 points (0.1%) at 39762.84, S&P E-Minis down 44.75 points (-0.79%) at 5643.25, Nasdaq down 330.2 points (-1.8%) at 18317.35.
  • Information Technology and Communication services sectors continued to underperform in late trade, semiconductor makers reversing midweek gains: Lam Research -5.42%, Applied Materials -4.74%, Nvidia -4.6%.
  • Interactive media and entertainment shares weighed on the Communication services sector: Meta -4.37%, Netflix -4.02% Google -2.67%.
  • Conversely, Real Estate and Utilities sectors continued to lead gainers in late trade, estate management shares stronger: SBA Comm +6.90%, Alexandria Real Estate +6.27%, CoStar Group +4.9%. Water and gas shares supported the Utilities sector: AES Corp +3.85%, Dominion Energy +3.47%, American Water Works +2.55%.
  • Reminder, banks kick off the latest equity earnings cycle tomorrow: Wells Fargo, Bank of NY Mellon, JP Morgan and Citigroup headlining.

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