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Late Equity Roundup: Consumer Discretionary, Financials Outperform

US STOCKS

Well off pre-open lows (tied to mixed bank earnings), major indexes trading trading in the green late Friday, initial support after UofM consumer confidence data underscores case for a soft landing for the economy (64.6 (cons 60.7) in the prelim Jan report. SPX eminis currently trades +7.25 (0.18%) at 4010.75; DJIA +56.5 (0.17%) at 34248.18; Nasdaq +42.2 (0.4%) at 11043.78.

  • SPX leading/lagging sectors: Consumer Discretionary (+0.64%) and Financials (+0.54%) outpaced Health Care sector (+.30%) in the second half. Internet and direct marketing stocks lead Discretionary sector (AMZN +2.96%, ETSY +2.21%) while banks lead Financials after trading weaker earlier: Wells Fargo (WFC) +2.94%, JPM (+2.59%), BAC (+2.0%), Citi (+1.83%).
  • Laggers: Industrials (-0.53%), Real Estate (-0.41%) and Utilities (-0.28%), airlines weighing on the former (DAL -3.93%, FDX -1.59%).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +3.16 at 373.10, Caterpillar (CAT) +1.85 at 256.92, Travelers (TRV) +1.35 at 193.34. Laggers: Big reversal for United Health that had gained over +12.0 following earnings beat trades -2.08 at 493.59 in late trade, Boeing (BA) -1.17 at 213.15, JNJ -0.85at 173.15.

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