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Late Equity Roundup

US STOCKS

US stock indexes trading just off late session lows afte the FI close, Energy and Consumer Discretionary sectors continuing to lead the sell-off. SPX eminis currently trade -82.5 (-2.02%) at 3993.5; DJIA -534.4 (-1.55%) at 33896.83; Nasdaq -260.9 (-2.3%) at 11201.29.

  • SPX leading/lagging sectors: Energy and Consumer Discretionary sector were both appr -3.0% in late trade, a wide array of petroleum companies (MPC -4.54%, MPC -4.59%, VLO -4.45%, Chevron -3.06%) weaker as crude prices reversed early gains (WTI -2.58 at 77.40). Consumer Discretionary not far behind weighed by auto makers (TSLA -6.93%), Ford and GM distant second/third (-2.85% and 2.67% resp). Leaders: Utilities (-0.51%), Health Care (-1.12%) and Consumer Staples (-1.36%) sectors outperformed.
  • Dow Industrials Leaders/Laggers: Carry-over bid for Boeing (BA) +3.67 at 186.54 on reports United Airlines looking to buy dozens of new 787 Dreamliners; Amgen (AMGN) +0.18 at 285.69, J&J -0.12 at 178.76, Dow (0.18) 51.37.
    Laggers: Carry-over selling in Salesforce.com (CRM) -10.80 at 133.76 w/ CEO Stewart Butterfield annc exit in Jan'23, Goldman Sachs (GS) -9.4+ at 371.09 w/ banks, financial shares generally weaker on the day.

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