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US STOCKS: Equities Roundup: Narrow Ranges Ahead Data, Fed Speak, DJIA Lagging

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  • Stocks are trading near steady to marginally mixed early Monday, several factors were helped keep indexes inside narrow ranges as stocks hover near last week's record highs. Knock-on support after the PBOC announced multiple stimulus measures last week shifts to neutral this week with China markets closed for a week long holiday.
  • Muted two-way trade ensued as accounts plied the sidelines ahead of Friday's September employment data, JOLTS, ISM manufacturing and services PMIs not to mention Fed Chair Powell addressing the National Association for Business Economics this afternoon (text, Q&A). Currently, the DJIA is down 101.65 points (-0.24%) at 42211.08, S&P E-Minis up 4.25 points (0.07%) at 5795.5, Nasdaq up 22.4 points (0.1%) at 18141.91.
  • Materials and Consumer Discretionary sectors underperformed in the first half, metals and mining stocks weighing on the former for the second day running: Freeport-McMoRan -2.69%, Newmont -0.95%. A mix of stocks weighed on the Discretionary sector: GM -3.92%, Ulta Beauty -3.84%, Carnival Cruise -3.07%.
  • Conversely, Communication Services and Real Estate sectors outperformed in the first half, interactive media and entertainment shares supporting Communication Services: Meta +1.02%, Google +0.39%, while estate management shares supported the latter: CBRE Group +0.49%, CoStar Group +0.29%.
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  • Stocks are trading near steady to marginally mixed early Monday, several factors were helped keep indexes inside narrow ranges as stocks hover near last week's record highs. Knock-on support after the PBOC announced multiple stimulus measures last week shifts to neutral this week with China markets closed for a week long holiday.
  • Muted two-way trade ensued as accounts plied the sidelines ahead of Friday's September employment data, JOLTS, ISM manufacturing and services PMIs not to mention Fed Chair Powell addressing the National Association for Business Economics this afternoon (text, Q&A). Currently, the DJIA is down 101.65 points (-0.24%) at 42211.08, S&P E-Minis up 4.25 points (0.07%) at 5795.5, Nasdaq up 22.4 points (0.1%) at 18141.91.
  • Materials and Consumer Discretionary sectors underperformed in the first half, metals and mining stocks weighing on the former for the second day running: Freeport-McMoRan -2.69%, Newmont -0.95%. A mix of stocks weighed on the Discretionary sector: GM -3.92%, Ulta Beauty -3.84%, Carnival Cruise -3.07%.
  • Conversely, Communication Services and Real Estate sectors outperformed in the first half, interactive media and entertainment shares supporting Communication Services: Meta +1.02%, Google +0.39%, while estate management shares supported the latter: CBRE Group +0.49%, CoStar Group +0.29%.