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Late Equity Roundup, Near Highs, IT Outperforms

US STOCKS
Stocks broadly higher/near late session highs after FI market close, underpinned hope over a nascent peace accord (or at least a solid cease fire) between Russia and Ukraine -- has yet to coalesce.
  • SPX emini March'22 futures traded +121.5 at 4290.25 -- shy of first resistance 20-day EMA level of 4349.88.
  • European bourses kicked off the rally in early London trade amid de-escalation hopes after Russia officials claims no intention of toppling the Ukrainian government, preferring to achieve goals via talks. Mood carried through midday US trade on headlines Ukraine ready for diplomatic solution to strife, according to Pres Zelensky aide. Move tempered after aide added security guarantees are required while Ukraine "Won't Trade `Single Inch' Of Territories".
  • SPX leading/lagging sectors: Information Technology outperformed +44.25% as it took lead from rebound in Financial sector +4.18%, Communication Services +3.58%. Sharply weaker oil weighed on Energy sector -3.25%.
  • Dow leaders: Goldman Sachs (GS) +13.33 to 334.70, followed by United Health (UNH) rebounded +12.33 at 485.79 as regulatory scrutiny ebbed slightly -- focus turned to carving out aid funds for Ukraine.

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