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Equity Roundup

US STOCKS

Stocks trading weaker after the cash open, well off post-data lows after higher than expected Jap CPI (0.6% vs. 0.4% est) rekindles higher/faster rate hike expectations from the Fed.

  • Technicals: Post-data sell-off sees ESH2 below 50-day EMA of 4563.04, but well off NY open low of 4515.75 to 4542.5 (-35.5). Breach of first support: 4438.50/4395.50 Low Feb 4 / Low Jan 31 will bring attention on the 4212.75 low from Jan 24 -- remains key short-term bear trigger.
    • Lagging sectors:
    • Information Tech -1.48%
    • Real Estate -1.00%
    • Consumer Discretionary -1.17%
    • Utilities -0.96%

Mixed levels out of Asia overnight while European bourses follow US bounce:

  • Shanghai Shenzen CSI 300 -0.40% to 4630.8 (-18.4), Hang Seng climbed +0.64% to 24990.0 (+159).
  • Europe: EuroStoxx currently -.07% at 4186.0 (-3.0), DAX rebounds +0.12% at 15488.0; while FTSE climbs 0.1% to 7594.

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