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Argus•December 15, 2023

Utilities, Healthcare, Consumer Defensive


Stocks were little changed on Friday morning following comments by New York Fed President John Williams that talk of rate cuts is ‘premature.’ Meanwhile, according to the Empire State Manufacturing Survey, the December manufacturing index dropped 24 points to -14.5 from +9.1 in November. On the earnings front, shares of Costco rose more than 3% after it reported above-consensus fiscal 1Q results. The Dow rose 0.1%, the S&P 500 gained 0.1% and the Nasdaq was up 0.5%. Crude oil traded near $71 per barrel, while gold rose $5 to $2050 per ounce.

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