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Late Equity Roundup: Finishing on Weaker Tone

US STOCKS

Week looked to finish w/ a risk-off tone as Tsys held broadly higher, SPX trading near late session lows after climbing to week high of 4013.25 early Friday (highest lvl since June 10).

  • Stocks sold off after preliminary July reading of the SP Global mfg PMI of 52.3 vs. 52.0 exp (52.7 in June), service sector miss at 47.0 vs. 52.7 est (steady to June read). After the FI close, SPX eminis trades -50.75 (-1.27%) at 3950; DJIA -236.2 (-0.74%) at 31796.7; Nasdaq -264.5 (-2.2%) at 11794.1.
  • SPX leading/lagging sectors: Utilities (+0.76%), Consumer Staples (+0.31%), Real Estate (+0.37%). Laggers: Communication Services (-4.58%) -- surprisingly not lead by Twitter (-0.73%) after earnings miss (-$0.35 loss vs. $0.137 est), but by Verizon (-7.81%) after earnings miss ($1.31 vs. $1.327 est), followed by Meta (-7.59%) and Google (-5.89%).
  • Dow Industrials Leaders/Laggers: American Express (AXP) +3.20 at 153.38 after strong earnings ($2.57 vs. $2.389 est), Procter & Gamble (PG) +1.43 at 142.20, Home Depot (HD) +0.41 at 305.41. Laggers: Microsoft (MSFT) -5.01 at 259.83, United Health (UNH) -3.36 at 519.10, Visa (V) -2.87 at 213.32 and Boeing (BA) -2.73 at 158.68
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