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Late Equity Roundup: Real Estate, Energy Leads, Apple Reports Late

US STOCKS
  • Stocks have climbed steadily throughout the session, holding near late session highs. Risk-on persists after yesterday's dovish hold announcement from the Fed and this morning's data. Currently, DJIA is up 373.3 points (1.12%) at 33647.96, S&P E-Mini future up 60.5 points (1.42%) at 4316, Nasdaq up 176.1 points (1.3%) at 13237.06.
  • Leaders: Real Estate, Energy and Consumer Discretionary sectors outperformed in late trade, hotel/resort and office real estate investment trusts buoyed the former: Alexandria Real Estate +4.93%, Boston Properties +4.15%, Host Hotels +3.78%.
  • Energy sector shares were supported by oil and gas stocks: Targa Resources +6.8, Conoco Philips +5.15%, Hess +3.42%. Meanwhile, auto makers lead the Discretionary sector: Tesla +5.84%, GM +1.93% and Ford +1.87%.
  • Laggers: Communication Services and Consumer Staples sectors lagged the broader based rebound. Telecom and interactive media shares underperformed: Meta -0.95%, Match -0.39%. Meanwhile, distribution and retail shares weighed on Consumer Staples: Sysco -0.50%, Kroger -0.15%, Costco flat.
  • Reminder that a slew of corporate earnings annc's are expected after the close: Apple, Booking Holdings, Insulet, Stryker, Microchip Technology, DraftKings, Carvana, SBA Communications, Five9, Floor & Decor Holdings, Expedia Group, Paramount Global, Live Nation Entertainment, Redfin

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