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Late Equity Roundup: IT Takes Lead, Financials Pressured

US STOCKS

Major indexes remain mixed in late session trade, Dow shares underperforming. Earlier risk-on move following Bbg story: "ECB Starts to Ponder Slower Hikes After Half Point in February" faded. SPX eminis currently trades -4.5 (-0.11%) at 4013.75; DJIA -349.83 (-1.02%) at 33951.76; Nasdaq +16.8 (0.2%) at 11095.16.

  • SPX leading/lagging sectors: Information Technology takes the lead (+0.51%) several factors in play including improved chip supply chain headlines, Microsoft layoffs spur rebound. Next up: Real Estate (+0.38%), Energy (+0.40%) lead by hotel and resort REITs, and Consumer Discretionary (+0.24%) lead by automakers (TSLA +6.96%).
  • Laggers: Materials (-0.85%), Communication Services (-0.75%) with telecoms lagging (LUMN -4.83%, VZ -2.08%). Next up: Industrials (-0.64%) and Financials (-0.47%) w/Banks weighing (BAC -1.5%, JPM -1.48%) following mixed earning sfor GS and MS.
  • Dow Industrials Leaders/Laggers: McDonalds (MCD) +6.20 at 275.09, Chevron (CVX) +3.51 at 181.07, AAPL +1.20 at 135.96, MSFT +1.19 at 240.42. Laggers: Goldman Sachs (GS) hammered after earnings miss -24.15to 349.85, Travelers (TRV) -9.01 at 184.91, Honeywell (HON) -3.77 at 212.84.

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