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Late Equity Roundup: Weaker Mid-Range

US STOCKS

Stocks trading modestly weaker, near the middle of the session range at the bell, directional with Tsy yields as rates more than make up for last Fri's post-jobs data sell-off. SPX eminis currently trading -36.50 (-1.06%) at 3859.5; DJIA -49.71 (-0.16%) at 31334.59; Nasdaq -236.9 (-2%) at 11398.22.

  • SPX leading/lagging sectors: Utilities moves to the fore (+0.42%) followed by Real Estate (+0.21%) and Health Care +0.01%. Laggers: Communication Services (-2.58%) weighed down by Twitter (TWTR) -9.95% after Elon Musk announced late Friday he wants to back out of purchase, lawsuits to follow.
    Next up: Consumer Discretionary (-2.33%) weighed down by autos, particularly Tesla (TSLA) -5.91%.
  • Dow Industrials Leaders/Laggers: Visa Inc (V) takes the lead +2.37 at 205.94, Home Depot (HD) +1.95 at 288.42, Merck (MRK) +1.31 at 94.09. Laggers: Caterpillar (CAT) -3.83 at 175.27, Boeing (BA) -2.79 at 136.28 and Goldman Sachs (GS) -2.33 at 294.14.
  • Reminder: Earnings season kicks off this week, with financials and banks the early focus. Just over 5% of the S&P 500 by market cap are due to report, with the releases in focus including JP Morgan, Morgan Stanley, BNY Mellon, BlackRock, Citigroup, State Street, UnitedHealth and Wells Fargo.

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