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Late Equity Roundup: Extending Session Highs

US STOCKS

Stocks continued to extend session highs in late FI trade, SPX eminis back to late Thursday range amid ongoing focus on tech shares and micro bloggers.

  • S&P eminis trading +31.25 (0.69%) at 4570.75 -- eyeing key resistance of 4578.50 (Feb 9 highs). Breach opens up 4633.44 76.4% retracement of the Jan 4 - Feb 24 downleg. Meanwhile, Dow Industrials climbed 94.36 (0.27%) at 34914.25, Nasdaq + 246.1 (1.7%) at 14507.26.
  • SPX leading/lagging sectors: Communication Services continued to outperform (+2.20%) with Twitter (TWT) climbing +11.67 (29.51%) to 50.88 following reports Elon Musk bought 9.2% outstanding shares. Netflix gained +19.57 (+5.24%) at 393.04.
  • Laggers: Utilites (-1.24%) lead by water/gas providers, followed by Health Care sector (-0.74%) w/equipment and service providers underperforming. Industrials bounced to -0.15 from -0.75 earlier.
  • Dow Industrials Leaders/Laggers: SalesForce.com (CRM) +7.80 to 220.05 with US listed China stocks outperforming. Microsoft (MSFT) +4.75 at 314.17 and Apple (AAPL) +3.25 at 177.55. United Health (UNH) continued to underperform: -4.45 at 508.15, Mcdonald's (MCD) bounced off lows to 245.95 -3.30.

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