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Late Equities Roundup: Program Sales Temper Support

US STOCKS
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  • Stocks are holding near late session highs following a few rounds of late profit taking sell programs Friday as markets continue to debate chances of a 50bp vs. 25bp rate cut at next week's FOMC announcement.
  • The DJIA trades up 275 points (0.67%) at 41369.95, S&P E-Minis up 24.5 points (0.44%) at 5626, Nasdaq up 99.8 points (0.6%) at 17669.06.
  • Utilities and Materials sectors led gainers in the second half, independent power providers supported the former as a reversal in crude prices (WTI -0.32 at 68.65 vs. 70.29 midmorning high) in the second half saw Energy share pare gains. Vistra Corp +6.08%, Constellation Energy +3.36%, AES Corp +2.48%.
  • Metal/mining stock continued to outperform as Gold hit new highs (2582.75/oz): Nucor +2.42%, Freeport-McMoRan +2.30%, Steel Dynamics +2.19%.
  • Conversely, Real Estate and Health Care sectors lagged the broad based rally, specialized and retail REITs weighed on the former: Digital Realty -1.0%, Public Storage -0.68%, Extra Space -0.44%. Health Care sector continued to underperform, Moderna down another 3% after falling -18% at one point Thursday amid plans to cut costs by $1.1B including research.
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  • Stocks are holding near late session highs following a few rounds of late profit taking sell programs Friday as markets continue to debate chances of a 50bp vs. 25bp rate cut at next week's FOMC announcement.
  • The DJIA trades up 275 points (0.67%) at 41369.95, S&P E-Minis up 24.5 points (0.44%) at 5626, Nasdaq up 99.8 points (0.6%) at 17669.06.
  • Utilities and Materials sectors led gainers in the second half, independent power providers supported the former as a reversal in crude prices (WTI -0.32 at 68.65 vs. 70.29 midmorning high) in the second half saw Energy share pare gains. Vistra Corp +6.08%, Constellation Energy +3.36%, AES Corp +2.48%.
  • Metal/mining stock continued to outperform as Gold hit new highs (2582.75/oz): Nucor +2.42%, Freeport-McMoRan +2.30%, Steel Dynamics +2.19%.
  • Conversely, Real Estate and Health Care sectors lagged the broad based rally, specialized and retail REITs weighed on the former: Digital Realty -1.0%, Public Storage -0.68%, Extra Space -0.44%. Health Care sector continued to underperform, Moderna down another 3% after falling -18% at one point Thursday amid plans to cut costs by $1.1B including research.