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Late Equity Roundup: Off Lows

US STOCKS
  • Stocks remain mixed, DJIA paring it's lead over weaker SPX and Nasdaq indexes in late trade. Currently, S&P E-Mini futures are down 16.25 points (-0.36%) at 4455, Nasdaq down 121.3 points (-0.9%) at 13750.63, DJIA up 44.79 points (0.13%) at 34487.58.
  • Laggers: Information Technology, Materials and Industrials sectors continued to underperform. While a spotlight remained on Apple (down as much as 5% on the day, partly due to a expanding ban on IPhone use by China state officials), the tech firm was not the day's worst performer.
  • That would be Seagate, down 10.3% in late trade after Barclays downgraded the company citing weaker hard drive demand. Other laggers included Skyworks Solutions and Qorvo both -7.5%, and Qualcomm -7.25%.
  • Metals and mining shares weighed on Materials (FCX -2.45%) while airlines weighed on Industrials transportation subsector (AAL -2.5%, LUV -1.75%, UAL -1.35%).
  • Leaders: Utilities, Real Estate and Health Care outperformed. Electric companies buoyed Utilities for the second day running: PG&E +2.5%, Constellation Energy +2.15%, Duke Energy +2.1% Specialized real estate investment trusts buoyed the Real Estate sector: American Tower +2.65%, SBA Communication +1.75%.
  • Meanwhile, pharmaceutical and biotech shares supported Health Care: Eli Lilly +2.15%, Amgen +2.05%, Abbvie +2.0% in late trade.

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