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Extending Late Session Highs Ahead Friday's Data Risk

US STOCKS
  • Stocks continued to march higher in late Thursday trade, robust risk appetite ahead of Friday's key employment data and the Fed entering policy blackout at midnight Friday.
  • The broad based rally across multiple sectors has pushed SPX futures near Tuesday's highs (4241.75) to 4238.0 (+47.5) just shy of medium-term bull trigger resistance of 4244.00 High Feb 2. The next resistance level is 4288.00 High Aug 19 2022. Nasdaq up 203.6 points (1.6%) at 13138.54; DJIA DJIA up 251.47 points (0.76%) at 33160.01.
  • Leading gainers: Energy sector leads with modest bounce in crude prices (WTI +2.07 at 70.16), Schlumberger +5.86%, Haliburton +5.41%, Baker Hughes +5.21%. Information Technology and Consumer Discretionary sectors a close second an third, semiconductor shares leading the former (Nvidia +5.65%). Laggers: Utilities and Consumer Staples sectors continued to underperform.

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