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Futures Point to Higher Friday Open

  • Continental equities were off to a solid start Friday, with core European indices on higher footing following the modest rebound across Asia-Pacific indices. Core Europe trades higher by 0.3-0.4% in early trade, although Spain underperforms with the IBEX-35 off around 0.8%.
  • Tech names are contributing to the more solid session, with consumer discretionary and financials sectors also in the green.
  • More buoyant stock markets in Europe have fed into US futures, with all three major US indices tilted higher.
  • The e-mini S&P is comfortably off yesterday's lows, with the 20-day EMA providing solid support at 4486.1. Any further bounce needs to show above yesterday's highs at 4529.50 to indicate any further progress.

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