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Late Equity Roundup: IT Shares Holding Gains

US STOCKS
  • Stocks indexes are trading mostly higher in second half trade. IT sector, buoyed by semiconductor stocks continued to lead gainers Monday. At the moment S&P E-Mini futures are up 22.75 points (0.52%) at 4405, Nasdaq up 182.8 points (1.4%) at 13472.29. Dow weaker after posting early gains, down 61.47 points (-0.18%) at 34438.34.
  • Leading gainers: Information Technology, Consumer Discretionary and Communication Services sectors are outperforming in late trade. Chip stocks buoying IT and outperforming software/hardware makers. Leaders include Palo Alto Networks +15.33%, Nvidia +6.35%, Broadcom +4.5%, Applied Materials +3.45%.
  • Autos continue to lead Consumer Discretionary with Tesla bouncing +6.0% after trading weaker last Friday, parts maker Aptiv +0.5%. Media and entertainment shares buoyed Communication Services: Meta +2.15%, Google +0.6%, Netflix +0.25%.
  • Laggers: Real Estate, Energy and Utilities underperforming, retail and residential Real Estate Investment Trust shares weighing on the former: SBA -2.4%, Essex Properties -2.0%, Invitation Homes -1.95%. O&G equipment and servicer names weighed on the Energy sector with Schlumberger -1.35%, Halliburton -1.25%, Baker Hughes -1.05%.
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