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Late Equity Roundup: Off Midday Highs, Energy Still Strong

US STOCKS
  • Stocks are see-sawing off midday highs in late trade, a generally quiet start to the week with many sidelined ahead a likely US government shutdown this Saturday. Currently, the DJIA is down 20.31 points (-0.06%) at 33979.99, S&P E-Mini Future up 7.75 points (0.18%) at 4375.5, Nasdaq up 27.3 points (0.2%) at 13271.61.
  • Leaders: Energy, Consumer Discretionary and Materials sectors continued to outperform in the second half. Oil and gas stocks led gainers in the first half Monday, Coterra Energy and EOG Resources both gaining +2%, Marathon +1.55%, and ConocoPhillips +1.38%.
  • Broadline retailers continued to support the Consumer Discretionary sector: Amazon +1.85%, Estsy +1.68%, Ebay +1.65%. Meanwhile, container/packaging stocks led Materials: Sealed Air +3.7%, International Paper +2.5%, Avery Denison +2.25%.
  • Laggers: Consumer Staples, Utilities and Real Estate underperformed Monday, food and beverage shares weighed on the former: Keurig -1.8%, Conagra -1.75%, Campbell Soup -1.5%. Multi energy providers weighed on the former: Ameren -1.27%, CMS Energy and WEC Energy -1.1-1.0%.
  • Meanwhile, Real Estate Investment Trusts (REITS) lagged R/E management and development share: Boston Properties -1.6%, Equity Residential and Extra Space Storage Inc both -1.25-1.20%.

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