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Late Equity Roundup: Sentiment Sours On Geopol Risks

US STOCKS
  • Stocks weaker in late trade, at/near lows as risk sentiment soured on Israeli Prime Minister Benjamin Netanyahu headline "we are preparing for a ground invasion [of Gaza]" Rtrs. Currently, S&P E-Mini future are down 57.5 points (-1.35%) at 4213.75, Nasdaq down 303.3 points (-2.3%) at 12834.4, DJIA down 67.69 points (-0.2%) at 33067.18.
  • Stocks had opened on a firmer tone after another round of positive annc's from Thermo Fisher, Hilton, Owens Corning, T-Mobile, and General Dynamics this morning. Stocks announcing Q4 results after the close include: Mattel Inc, Whirlpool Corp, O'Reilly Automotive, Wyndham Hotels, IBM, Baker Hughes, Sun Communities, Meta Platforms, United Rentals and Raymond James.
  • Laggers: Communication Services and Consumer Discretionary sectors continue to underperform: Alphabet (formerly Google) -9.85% after beating estimates late Tuesday - but weighed by lagging cloud computing growth. Weaker media and entertainment added to the early tone with Match -4.8%, Meta -3.95%. Broadline retailer stocks weighed on the Consumer Discretionary sector: Amazon -5.63%, Ebay -3.93%, Etsy -3.65%.
  • Leaders: Consumer Staples and Utilities sectors outperformed, food and beverage shares buoyed the former: McCormick +3.29%, General Mills +2.91%, Campbell Soup +2.78%. Independent power and electricity providers supported Utilities for the second consecutive session : NextEra Energy up another +2.65% after beating estimates yesterday, CMS +1.03%, AES +0.75%.

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