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Equities Bounce at Opening Bell, Despite Softer Cash Trade

EQUITIES
  • Solid bounce in futures markets following the cash open extends in recent trade, prompting the e-mini S&P to trim the day's losses to 10 points, bouncing close to 20 points from the lows.
  • Bounce is more notable in the NASDAQ, with the NASDAQ mini back into positive territory to erase the entirety of the overnight dip.
  • Strength in communication services names and consumer discretionary has driven the post-opening bell strength, although 430 names are lower vs. Just 60 higher across the S&P 500 in early trade.
  • Recall quarterly earnings season unofficially begins next week, with the likes of JPMorgan, State Street, BlackRock, Wells Fargo and PepsiCo reporting on Thursday/Friday.

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