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Late Equity Roundup: Holding Highs for Week


Stocks look to finish out the week strong, SPX eminis near 5% higher for the week as risk appetite improved following Wed's May FOMC minutes release that showed a flexible Fed and no discussion of larger rate hikes. SPX emini futures currently +71.55 (1.76%) at 4127.5 -- makes it +4.86% for the week.

  • Technicals for SPX emini: ESM2 through 20-day EMA of 4047.83 as well as May 9 high of 4099.0 w/ focus on 4191.98 50-day EMA.
  • SPX leading/lagging sectors: Information Technology sector extends gains (+2.57%) as hardware and semiconductor shares rally for second day. Real Estate (+2.59%) outpaces Consumer Discretionary sector (+2.33%) as autos remain strong (Tesla +6.23% at 751.80). Laggers: Consumer Staples (+0.55%) as food/beverage and tobacco underperform. Followed by Utilities (+0.80%) and Financials (+0.83%).
  • DJIA +351.13 (1.08%) at 32988.66; Nasdaq +303.4 (2.6%) at 12043.95.
  • Dow Industrials Leaders/Laggers: Microsoft (MSFT) +54.92 at 270.82, Apple (AAPL) +4.41 at 148.63 and Boeing (BA) +3.18 at 130.91. Note: United Health Care (UNH) rallied from -4.62 earlier to +0.93 at 503.16. Laggers: JNJ -0.08 at 179.38, Merck (MRK) +0.03 at 92.34.

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