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Late Equity Roundup: Extending Rally, Tesla Lifts Autos

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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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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.