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Late Equity Roundup: Bid But Wary Of Latest Earnings

US STOCKS

SPX eminis gaining in late FI trade, upper half session range as markets get ready fora slew of new earnings after the close: Invitation Homes (INVH), Raymond James (RJF), Qualcomm (QCOM), Amgen (AMGN), Ford (F), Meta (FB), PayPal (PYPL) to name a few.

  • Despite the bounce, fresh short-term lows confirm a resumption of the current downtrend and signal scope for a continuation of this theme. ESM2 trading +25.25 (0.61%) at 4196.25 well above key short term support of 4136.75 (Low Apr 26). Initial upside resistance: 4303.50/4355.50 High Apr 26 / Low Apr 18.
  • SPX leading/lagging sectors: Materials (+2.43%) outpaces Information Technology (+2.34%) lead by software and services: Visa (V) +7.39%, MSFT +6.49%.
  • Laggers: Communication Services (-2.19%) weighed interactive media ands services, in particular Meta (FB) -4.86%, Alphabet (GOOG) -3.31%).
  • Meanwhile, Dow Industrials currently trades +209.95 points (0.63%) at 33448.76, Nasdaq +55.3 points (0.4%) at 12547.21.
  • Dow Industrials Leaders/Laggers: Salesforce Inc +6.38 at 176.46, United Health +5.39 at 519.17. Boeing extends losses on heavy volume (-14.13 at 152.91), Johnson & Johnson (-1.55 at 183.13).

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