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Late Equities Roundup: Still Bid/Off Highs, Earnings Start Next Week

US STOCKS
  • Still broadly higher in late Friday trade, stocks were scaling off midday highs with some accounts booking profits ahead of the weekend. Currently, DJIA is up 245.91 points (0.64%) at 38855.44. S&P E-Minis up 41.75 points (0.8%) at 5241.25, Nasdaq up 160 points (1%) at 16214.4.
  • Leading Gainers: Communication Services and Information Technology sectors continued to lead gainers in late trade, interactive media and entertainment shares buoyed the former: Netflix +2.98%, Meta +2.79%, Google +1.76%. Chip stocks continued to recover from late Thursday's sell-off with Advanced Micro Devices +3.64%, Broadcom +2.91% and Applied Materials +2.59%.
  • Laggers: Utility and Consumer Staples sectors continued to underperform in late trade, natural gas and independent energy providers weighed on the Utility sector: WEC Energy -1.58%, CMS Energy -1.21%, Excel Energy -1.08%. Meanwhile, food stocks weighed on Consumer Staples: McCormick -2.05%, Campbell Soup -1.6%, Hershey -1.45%,
  • Reminder, the next quarterly earnings starts in earnest late next week with JP Morgan, BlackRock, Wells Fargo, State Street and Citigroup reporting Friday, April 12.

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