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Late Equity Roundup: Well Bid, Powell Less Hawkish Than Feared

US STOCKS

Stock indexes staged late session rally after Fed Chairman Powell's speech and Q&A session at Brooking's conf deemed less hawkish than could have been. SPX eminis extending highs through resistance/bull trigger (4050.75 High Nov 15).

  • SPX eminis currently trade +104.25 (2.63%) at 4066; DJIA +573.64 (1.69%) at 34423.1; Nasdaq +409.2 (3.7%) at 11392.22.
  • SPX leading/lagging sectors: Communication Services (+4.58%) and Information Technology (+4.49%) strong outperformers - interactive media supporting the former w/ Meta +7.24%, Netflix +8.93%. IT sector lead by surge in semiconductor stocks (Nvidia +6.20%, MPWR +5.9%, AMD and QCOM +5.65% . Laggers: Energy (+0.76%), Industrials (+1.29% and Financials (+1.36%) with bank stocks off lows but lagging sector.
  • Dow Industrials Leaders/Laggers: United Health (UNH) surges +14.54 at 542.54, Microsoft (MSFT) +11.21 at 251.54, Salesforc.com (CRM) +6.63 at 158.31. Laggers: MMM -0.54 at 125.59, Walmart (WM=T) -0.43 at 152.54, DOW +0.06 at 50.71.

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