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Late Equity Roundup: Extending Rally, Tesla Lifts Autos

US STOCKS

Major indexes continued to extend modest gains in late Friday trade, Consumer Discretionary and Communication Services sectors continue to lead. SPX eminis currently trades +26 (0.64%) at 4101.5; DJIA +150.43 (0.44%) at 34099.35; Nasdaq +156.1 (1.4%) at 11668.48.

  • SPX leading/lagging sectors: Consumer Discretionary (+2.68%) lead by auto maker Tesla for a second day: +11.71% after positive midweek earnings, strong guidance and price target upgrades (Wedbush and Cowen). GM (+4.30%) and F (+3.51%) up as well. Communication Services (+1.27%) lead by interactive media and entertainment (Meta +3.4%, Google +2.30%).
  • Laggers: Energy (-1.54%) weighed by oil and gas refiners (CVX -4.17% after disappointing earnings $4.09 EPS vs $4.27 est), followed by Health Care (-0.60%) managed health care providers underperforming (HUM -3.41%, ELV -2.05%, CAH -1.81%).
  • Dow Industrials Leaders/Laggers: Despite missing earnings est ($2.07 vs. $2.22) American Express (AXP) has surged over 10% (+17.54 at 173.42) on dividend increase. Visa (V) +6.88 at 231.59, Caterpillar (CAT) +3.52 at 265.64.
  • Laggers: Chevron (CVX) -7.94 at 179.85, United Health (UNH) -4.12 at 488.36, Travelers (TRV) -3.06 at 189.05.

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