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Late Equity Roundup: Off Lows, Nothing Fundamental

US STOCKS

Stock indexes still weaker in late trade, but off session lows, bouncing w/ Tsys after headline Germany denies backing "joint EU debt for loans to ease energy crisis" Rtrs (FI and stocks sold off early on headline German WOULD back the debt scheme).

That said, Information Technology and Energy sectors continue to underperform. Currently, SPX eminis trade -13.5 (-0.37%) at 3640; DJIA -25.66 (0.09%) at 29320.12; Nasdaq -57.3 (-0.5%) at 10594.1.

  • SPX leading/lagging sectors: Carry-over weakness in Information Technology (-1.19%) as semiconductor makers feel pressure from Pres Biden's new export measures to China. Energy (-2.07%) as crude traded lower (WTI -1.40 at 91.24). Leaders: Utilities (+0.64%) w/gas, electric and independent power names evenly paired, Consumer Staples (+0.57%) and Industrials (+0.50%).
  • Dow Industrials Leaders/Laggers: Amgen (AMGN) +3.69 at 232.72, Merck (MRK) +2.76 at 90.36, Boeing (BA) +1.49 at 131.28. Laggers: United Health (UNH) -6.39 at 498.46, Microsoft (MSFT) -4.95 at 229.29, Salesforce Inc (CRM) -5.06 at 145.23

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