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Late Equity Roundup: Drifting Off Lows, IT, Health Care Leading

US STOCKS
  • Still weaker in late trade, stocks have drifted off late morning lows, near the narrow overnight range. Currently, the DJIA is down 201.08 points (-0.52%) at 38452.52, S&P E-Minis down 7 points (-0.14%) at 4973.5, Nasdaq down 5.5 points (0%) at 15623.65.
  • Leading gainers: Information Technology and Health Care sectors continue to outperform in late trade, chip stocks supported the IT sector: ON Semiconductor +10.45%, Nvidia +4.05%, Qorvo+3.76%. Pharmaceuticals and biotechs buoyed the latter: Catalent +9.39% after Novo Holdings offered to by the multi-national pharma company; Eli Lilly +5.78%, AbbVie +2.21%.
  • Laggers: Chemicals and mining stocks weighed on the Materials sector in late trade: Air Products/Chemicals -14.82% after disappointing earnings this morning, Albemarle -4.45%, Vulcan Materials -2.35%. Meanwhile, Real Estate sector shares displaced earlier earlier underperforming Consumer Discretionary stocks, estate management stocks weaker: CoStar Group -2.95%, CBRE -1.62%.
  • Looking ahead: corporate earnings expected after the close: Crown Holdings, Palantir Technologies, Rambus and Vertex Pharmaceuticals. Early Tuesday annc from: Aramark, Cummins, GE Healthcare, DuPont, Gartner, Centene, Eli Lilly and Hertz.

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