- Equity sectors: Financials are the worst space in the market, falling over 1.25% on weakness pretty much across the board. Industrials are off 1.25% on weakness in homebuilders, airlines, and building products.
- Discretionary is also off 1.25% on weakness in autos and IGT. Energy is in line with the tape, although refiners are weighing on the group due to lower crack spreads.
- Tech is slightly ahead of the tape as strength in JNPR, NOVL, and ERTS offsets weakness in semis (SOX off over 1.25%). Materials are outperforming a bit on strength in gold stocks and CF, although steels continue to act poorly and paper stocks also weigh on the group. Telecom is off just under 0.5%, outperforming on strength in VZ. Staples are off under 0.2% and outperforming on strength in beverages, DF, and HSY.
- Utilities are flattish on the day, outperforming the market on a defensive bid as investors look to reduce beta. Healthcare is up close to 0.25% on the day, the top space in the market, on strength in biotechs (AGN, GENZ, BIIB, and CELG) on news that Sanofi is looking to acquire a biotech company in the US.