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Late Equity Roundup: Energy, Financial Sectors Underperforming

US STOCKS
  • Stocks trading mostly weaker/near lows longs squared ahead the weekend, Nasdaq still managing to outperform in late trade. Currently, DJIA is down 391.23 points (-1.19%) at 32390.43, S&P E-Mini futures down 23.5 points (-0.57%) at 4132.5, Nasdaq up 39.5 points (0.3%) at 12634.09.
  • Laggers: Energy, Financials and Health Care sectors underperformed, oil and gas shares weighed on the former after Chevron, Exxon Mobil, Phillips 66 all missed est's after weaker Q3 profits: Chevron -6.65%, Hess Energy -6.63%, Kinder Morgan -2.25%.
  • Bank shares weighed on Financials: T Rowe Price -4.95%, Bank of America -4.25, AON -4.0%. Meanwhile, pharmaceutical and biotech shares weighed on the Health Care sector: AbbVie -5.8% (despite beating earnings ests and hiking Q4 guidance), Amgen -3.4%, Gilead Services -2.65%.
  • Leaders: Recovering from midweek selling, Consumer Discretionary and Information Technology sectors continued to outperform late Friday, broadline retailers buoyed the former: Amazon +7.05% after beating Q3 estimates and raising forward guidance late Thu), Estsy +1.31%.
  • Chip stocks buoyed the IT sector: Intel +9.25% also after beating Q3 estimates and raising forward guidance late Thu, Advanced Micro Devices +3.05% and Micron +1.67%.

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