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Late Equity Roundup: Paring Earlier Gains

US STOCKS
  • Stocks trading mostly higher, holding to narrow channel in late trade. Currently, DJIA shares are up 32.79 points (0.09%) at 35262.73, S&P E-Mini Futures up 0.75 points (0.02%) at 4567.25, Nasdaq down 38.1 points (-0.3%) at 14027.87.
  • Leading gainers: Utilities, Health Care and Energy sectors continued to outperform in late trade: independent/renewable power provider AES +3.0% buoyed Utilities in late trade. Pharmaceuticals and biotech shares trade higher for the second consecutive session: Pfizer subsidiary Zoetis (world's largest producer of medicine and vaccinations for pets and livestock) is up 7.3%, Danaher Corp gains 5.4% followed by Thermo-Fisher Scientific +4.9. Oil and Gas refiners, meanwhile, continued to backstop Energy sector shares: Baker Hughes +2.4%, Devon Energy and APA both +1.95%.
  • Laggers: Communication Services, Information Technology and Industrials underperformed. Media and entertainment shares lagged telecom Friday, advertiser conglomerate Interpublic Group -12.6% after revenue dropped 2.1% YoY to $2.33B, lagging estimates by $60 million, while EPS at $0.74 actually outperformed expectations by 0.14. Software and services shares weighed on IT after better performance from chip makers buoyed the sector for most of the week. Ground transportation share weighed on Industrials with CSX -3.6, Norfolk Southern -1.5%.
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