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Late Equity Roundup: DJIA Still Higher Post FOMC

US STOCKS
  • Stocks trimmed gains after the Fed left rates unchanged but left the door open for further tightening if warranted, Dow stocks outperforming weaker SPX and Nasdaq indexes. Currently, DJIA is up 46.46 points (0.13%) at 34563.63, S&P E-Mini Future down 23.25 points (-0.52%) at 4466.75, Nasdaq down 129.9 points (-0.9%) at 13547.83.
  • Leaders: Real Estate, Consumer Staples and Health Care sectors outperformed in late trade, property management names buoyed the former in early trade: CoStar Group +1.75%, CBRE Group +0.5%.
  • Consumer Staples led by food & beverage stocks: Molson Coors +1.7%, Hershey and Keurig/Dr Pepper +1.2%. Meanwhile, Health Care buoyed by equipment and servicer names: UnitedHealth +2.85%, McKeeson +2.6%, Humana +2.45%.
  • Laggers: Communication Services and Information Technology sectors continued to underperform with media and entertainment weighing on the former: Fox -2.45%, Google -1.95%, Paramount Global -1.62%.
  • IT traded weaker again with hardware and semiconductor shares trading weaker: Zebra Tech -5.88%, Intel -3.16%, Microsoft -1.25%. On the flipside, Western Digital gained 4.35% on headline Kioxia merger $13.5B refinance loan as well as upgrade from BNP Paribas.

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