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US STOCKS: Late Equities Roundup: Mildly Higher, Awaiting More Data

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks drifted in mildly higher territory late Wednesday, near record highs in the aftermath of this morning's in-line CPI inflation data. Stocks bounced off early lows after the lack of an upside inflation surprise underscored dovish policy expectations. That said, markets still have Thursday's PPI inflation before committing more capital for buying stocks.
  • Currently, the DJIA trades up 72.39 points (0.16%) at 43988.15, S&P E-Minis up 7.5 points (0.12%) at 6020, Nasdaq down 0.7 points (0%) at 19278.9.
  • Energy and Consumer Discretionary sectors led gainers in late trade, oil and gas stocks buoyed the Energy sector: Coterra Energy +2.58%, Marathon Petroleum +2.24% while Phillps 66 gained 2.21%. Retail distribution shares buoyed the Consumer Discretionary sector: Amazon +2.39%, CarMax +1.58%, the Home Depot +1.50%.
  • Utilities and Health Care sectors underperformed in the second half, multi-energy providers weighing on the Utility sector: Consolidated Edison -2.0%, Dominion Energy -1.79%, DTE Energy -1.57%. Meanwhile, the Health Care sector was weighed down by ResMed -3.64%, Molina Healthcare and Charles River Labs both -3.46% while Dexcom declined 3.15%.
  • Earnings expected after today's close: Tetra Tech and Cisco, followed by Walt Disney and Applied Materials Thursday.
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  • Stocks drifted in mildly higher territory late Wednesday, near record highs in the aftermath of this morning's in-line CPI inflation data. Stocks bounced off early lows after the lack of an upside inflation surprise underscored dovish policy expectations. That said, markets still have Thursday's PPI inflation before committing more capital for buying stocks.
  • Currently, the DJIA trades up 72.39 points (0.16%) at 43988.15, S&P E-Minis up 7.5 points (0.12%) at 6020, Nasdaq down 0.7 points (0%) at 19278.9.
  • Energy and Consumer Discretionary sectors led gainers in late trade, oil and gas stocks buoyed the Energy sector: Coterra Energy +2.58%, Marathon Petroleum +2.24% while Phillps 66 gained 2.21%. Retail distribution shares buoyed the Consumer Discretionary sector: Amazon +2.39%, CarMax +1.58%, the Home Depot +1.50%.
  • Utilities and Health Care sectors underperformed in the second half, multi-energy providers weighing on the Utility sector: Consolidated Edison -2.0%, Dominion Energy -1.79%, DTE Energy -1.57%. Meanwhile, the Health Care sector was weighed down by ResMed -3.64%, Molina Healthcare and Charles River Labs both -3.46% while Dexcom declined 3.15%.
  • Earnings expected after today's close: Tetra Tech and Cisco, followed by Walt Disney and Applied Materials Thursday.