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Equities Nudge Session Highs As Fed Terminal Drifts Lower

US STOCKS
  • ESA briefly touches new session highs of 4022.75 (+0.4%) ahead of the FOMC minutes before pulling back, still only a small bounce after following yesterday’s 1.7% slide.
  • Helped by Fed terminal rate expectations drifting back near session lows, currently 5.325% from 5.37% yesterday.
  • Next notable resistance still far higher at the bull trigger of 4208.5 (Feb 2 high) whilst initial support is seen at the day’s earlier low of 3974.14 (3.0% 10-dma envelope).

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