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As expected, US equities open with.........>

EQUITIES
EQUITIES: As expected, US equities open with losses after the pullback in
futures overnight (again, stemming from Iran news). But, equities rally out of
the gate, boosting e-mini S&P to narrow the losses to around 26 points or 0.8%
since the Iran news.
Attention turns to the ISM manufacturing data for December due in just under 25
minutes. The MNI Chicago PMI report released last week was slightly
better-than-expected, but remained in contractionary territory at 48.9 vs. Exp.
47.9.

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