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Late Equity Roundup: Back To Mid-Nov Levels, Energy Weighing

US STOCKS

Carry-over weakness for US stock indexes, Energy sector leading the way lower as SPX eminis slips back to mid-November levels: currently -69.5 (-1.74%) at 3933.75; DJIA -433.47 (-1.28%) at 33513.77; Nasdaq -253.3 (-2.3%) at 10986.75.

  • SPX leading/lagging sectors: Energy sector (-3.05%) lead the sell-off in the second half as crude prices fell to the lowest since January (WTI -2.65 at 74.28). Marathon (MRO) -4.14%, Hess (HES) -3.98%, Devon (DVN) -4.0%, Occidental (OXY) -3.6%.
  • Communication Services (-3.00%) weighed by interactive media shares such as Meta, formally Facebook (META) -6.62%, Google (-2.82%); followed by Information Technology (-2.69%) weighed by semiconductor stocks (ENPH -8.10%, AMD -5.10%.
  • Leaders: Utilities for a second day (+0.26%), Consumer Staples (-0.91%) and Health Care (-1.13%) sectors outperformed.
  • Dow Industrials Leaders/Laggers: Carry-over selling in Goldman Sachs (GS) -10.58 at 360.96 w/ banks, financial shares generally weaker, Visa (V) -6.0 at 207.68, Boeing paring Mon gains (BA) -6.46 at 178.54 - profit taking after reports United Airlines looking to buy dozens of new 787 Dreamliners.
  • Leaders: United Health (UNH) +3.30 at 538.34, Travelers Ins (TRV) +1.19 at 188.40..

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